Proposed measures in response to PwC
The Law Council of Australia provided a submission to the Treasury in relation to a series of proposed measures in response to events involving PwC.
This submission provides general observations on the consultation process—particularly the highly restrictive timeframes in which to respond—in addition to specific feedback on the following aspects of the consultation process:
- reform of promoter penalty laws;
- Tax Practitioners Board reforms;
- whistleblower protections; and
- information sharing.
The Law Council acknowledges the assistance of the Law Society of New South Wales in preparing this submission. It is also grateful for the contributions of its Business Law Section’s Taxation Committee.