2023

Navigating change and uncertainty in tax policy, law and administration

Source: Victoria

Published Date: 3 May 2023

 

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In a world of legislative change and case law development, there is an ever-growing challenge for regulators and taxpayers to navigate and communicate uncertainty. Hear from the experts in this panel, who face this challenge about how to navigate:

  • Legal questions which are currently being litigated (e.g., s 100A of the Income Tax Assessment Act 1936 (1936 Act), Commissioner of Taxation v Guardian AIT Pty Ltd ATF Australian Investment Trust [2023] FCAFC 3 and the use of rulings and guidelines including drafts)
  • A change in interpretation from the regulator (e.g., Division 7A of the 1936 Act and sub-trust arrangements)
  • The breadth of regulator communication (e.g., rulings and other guidelines including the use of traffic lights and administrative practice)
  • The weight to be attributed to guidelines (e.g., Practical Compliance Guideline PCG 2021/4 (Allocation of professional firm profits – ATO compliance approach) and Victorian economic entitlement guidance); and
  • Development and design of legislation and changes in government policy (e.g., announcements later discontinued and interaction between state and federal taxes (such as windfall gains tax)).
Author Profile
Paul Broderick

Author Profile
Louise Clarke

Author Profile
Miranda Stewart CTA

Author Profile
Paul Sokolowski CTA

Individual Session

Author(s): Paul Broderick , Miranda Stewart CTA , Louise Clarke , Paul Sokolowski CTA

Details

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Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

The Tax Institute
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