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Regulatory reform

The Board plays a key role in helping the Australian Government to carry out its regulatory reform agenda. As part of this role, the Board provides advice to the Treasurer on opportunities to reduce red tape in the tax system and provides an important consultation mechanism for more substantive tax regulation matters. The Board maintains a Regulatory Reform Working Group comprising representatives from the Board, Treasury and the Australian Taxation Office which meets regularly to assist the Board in undertaking this work.

The Board’s key areas of focus with respect to regulatory reform are:

Sounding Board: Ideas for Better Tax Regulation

Sounding Board is a platform to submit, develop, discuss and prioritise ideas for tax system improvement. Sounding Board is open to any tax bodies and professionals, businesses and members of the public who wish to have their say on ways to improve the tax system. Please see the fact sheet [DOC 193KB | PDF 689KB] for more information. You can also view Sounding Board’s Frequently Asked Questions and Moderation Policy. To get involved, visit Sounding Board and follow the prompts and create your account.

The Board also received a number of ideas on regulatory reform of the tax system prior to the creation of Sounding Board. These ideas were subject to examination by the Board’s Regulatory Reform Working Group, with recommendations made in respect of each. Please see the attached list [RTF 1MB | PDF 352KB] to view each idea and the associated outcome.

Regulator Performance Framework

As the Government’s Ministerial Advisory Council (MAC) for tax matters, the Board will play a role in reviewing performance reports produced by the ATO as part of a Framework to assess the performance of Commonwealth regulators and their engagement with stakeholders.