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Application of Consistent Self-Assessment Principles

On 27 March 2007 the then Minister for Revenue and Assistant Treasurer announced  that he had asked the Board of Taxation to consult publicly on the scope to apply consistent self assessment principles across all federally administered taxes (including the goods and services tax).

On 11 June 2008 the Assistant Treasurer announced in a Press Release  that the Board would undertake a review of the legal framework of the GST, which replaces this Review. The Board’s findings on the GST may then inform any consideration of the application of the self-assessment principles to other taxes. Further information is available on the GST Administration Review page.

Terms of Reference

The Board of Taxation (the Board) should consult with relevant stakeholders and report to the Minister on the merits of the following possible improvements to the taxation system:

In pursuing the reference in relation to rulings, the Board should consider:

In pursuing the reference in relation to amendment periods, the Board should consider the implications of the potential for a lack of symmetry between taxpayers who are a) parties to the one transaction in the GST system, or b) pay customs duty.

The Board appointed a Working Group of its members comprising Eric Mayne (Chairman), Chris Jordan and Curt Rendall to oversee the Board’s consultations, however the Working Group members are currently focusing on the review of the legal framework for the administration of the Goods and Services Tax as discussed above.

Further information on this review can be obtained from the Board of Taxation Secretariat on (02) 6263 4366.