Tax Debt Information Disclosure Proposals 2019
Treasury Laws Amendment (2019 Tax Integrity and Other Measures No 1) Bill 2019 | Draft Taxation Administration (Tax Debt Information Disclosure) Declaration 2019
The submission to the Senate Standing Committees on Economics and to the Treasury in relation to the tax debt disclosure proposals contained in Treasury Laws Amendment (2019 Tax Integrity and Other Measures No 1) Bill 2019 (the Bill) and the Draft Taxation Administration (Tax Debt Information Disclosure) Declaration 2019 (the Declaration) was prepared by Taxation Committee (Committee) of the Business Section of the Law Council of Australia.
The Committee previously provided comments to Treasury in February 2018 with regards to the earlier version of these proposals contained in the Treasury Laws Amendment (Tax Transparency) Bill 2018. Most of the earlier issues that were identified in our earlier submission have not been resolved and are reiterated below for convenience.
In particular we reference our earlier comments regarding the important role of the Inspector-General of Taxation in the proposed regime. It will be important to ensure that sufficient additional resources are made available to the Inspector-General to deal with the additional consultation and complaints-handling workflow that form a staple part of the new measures.
You can read the full submission below.