Published on 27 Oct 06
by NEW SOUTH WALES DIVISION, THE TAX INSTITUTE
This paper examines the effect of the recent legislative changes to assessments, amendments, rulings and penalties and how they impact on the way tax advisers and tax managers should be managing compliance obligations including:
overview of the new rules for assessments, amendments and rulings including Part IVA amendment periods
are you really now protected if you have a loss or no assessment?
how do you ensure that you’re covered? When and what you have as a private ruling - tips and traps
is there any value in oral rulings?
what constitutes a public ruling and how much can you now rely on them?
the new penalty regime - GIC, SIC and the ATO’s new practice statement.
Andrew Mills FTIA (Life) is Managing Director of tax specialist firm Greenwoods & Freehills Pty Limited where he
advises clients on a range of domestic and international tax issues, primarily in the financial services sector. His
career spans over 25 years and includes periods in the Australian Taxation Office, as well as corporate and
professional services organisations. Andrew was President of the Taxation Institute of Australia for 2006/2007 and
is also a part time lecturer in the Masters of Law course at the University of Sydney in taxation. He is the
Taxation Institute’s representative on Treasury’s Tax Treaties Advisory Panel and has spoken and written on
international tax issues in a number of forums. Current at April 2009
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
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