The Board of Taxation is a non-statutory advisory body charged with contributing a business and broader community perspective to improving the design of taxation laws and their operation.
Ideas for better tax regulation
ATO ruling on CGT on earnouts
Update and finalise TR 2007/D10, Income tax: capital gains: capital gains tax consequences of earnout arrangements now that the earnout legislation is passed. There are some types of earnouts that the legislation does not cover. The ruling should cover these.
Guidance on Forgiveness of Div7A Loans Owed by Deceased Estates
Suggest the ATO provide further guidance on its current position regarding forgiveness of Div 7A loans owed by deceased estates and the consequences of not meeting minimum repayments, especially where the deceased is a former shareholder and the estate does not have shares in the company
Align Fringe Benefit Tax Year with Income Tax Year
For small businesses, calculating expenses that confer fringe benefits using a period that overlaps accounting periods adds an additional compliance burden. By aligning the two periods, a business can use their year-end figures to calculate their expenses for FBT
Meetings & events
- 8 Apr 2016 - Board of Taxation Meeting in Brisbane
- 11 Mar 2016 - Board of Taxation Meeting in Sydney
- 4 Mar 2016 - Board of Tax Chair, Michael Andrew AO, speech at the Institute of Public Accountants (IPA) Victoria Congress in Torquay
The Corporate Tax Association encourages its members to adopt the Tax Transparency Code.0 0
G100 supports adoption of the Board-developed Tax Transparency Code by Australian businesses - group100.com.au/wp-content/upl…3 0
The Tax Transparency Code released: taxboard.gov.au/consultation/v… Currently most advanced and comprehensive tax transparency measure in the world.9 0