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
Increased ATO portal functionality
There are several common reasons why a tax agent would call the tax office, if some of these reasons can be made available online it would save time for both the tax agent and ATO staff. Suggestions for portal improvements could include: The ability to see, download, and amend the annual payroll summaries and taxable payments summaries lodged by a business (and other uploadable files), ability to make payment arrangements and see active payment arrangements, ability to see the SGC account, and if possible the ability to see super payments made by a business through the super clearing house
Safe harbour for long-life depreciating assets in Div 40
Introduce a general safe harbour effective life for long-life depreciating assets in Division 40, much like the small business general asset pool (say 20 years).
Amend transfer pricing rules
Amend transfer pricing rules so that when a taxpayer’s gearing ratio falls within the safe harbour rations, the taxpayer’s debt deductions are priced, for the purposes of the transfer pricing rules, on the basis of the taxpayer’s actual gearing ratio and not by reference to a notional arm’s length capital structure.
Meetings & events
- 9 Sep 2016 - Board of Taxation Meeting in Sydney
- 4 Aug 2016 - Board of Taxation Meeting in Adelaide
- 24 Jun 2016 - Board of Taxation Meeting in Sydney