Published on 06 Aug 09
by THE TAX INSTITUTE
The Taxation Institute of Australia (Taxation Institute) refers to the consultation paper entitled "Review of the margin scheme" released by Treasury on 12 May 2009.
The Taxation Institute welcomes the opportunity to participate in this consultation process, and thanks you for allowing the Taxation Institute additional time within which to respond.
The submission that follows is consistent with the comments made by representatives of the Taxation Institute present at the consultation meeting held with Treasury on Friday 3 July 2009. Those representatives were Lachlan Wolfers, Gina Lazanas and Ian Jeffrey.
Retain existing margin scheme provisions
The Taxation Institute's preferred position is Option 3, which involves retaining the existing margin scheme provisions and addressing deficiencies in its operation. The Taxation Institute reaches this view for the following reasons...
TAXATION INSTITUTE OF AUSTRALIA