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Media Release 3706/04/2011

Release of Additional Guidance Material for Review into the Consolidation Rights to Future Income and Residual Tax Cost Setting Rules

The Chairman of the Board of Taxation’s Working Group on its review of the consolidation rights to future income and residual tax cost setting rules, Mr Keith James, today announced the release of additional guidance material for stakeholders interested in making submissions to the review. The guidance material should clarify the issues which stakeholders should take into account in preparing submissions.

The Board’s review was announced by the Assistant Treasurer on 30 March 2011, and the Board is to provide a final report to the Government by 31 May 2011. The press release announcing the Board’s review and the terms of reference are available on the Assistant Treasurer’s website.

Further information on the review is available on the Board of Taxation website www.taxboard.gov.au.

Given the short time frame provided to the Board for this review, the closing date for submissions is Wednesday 20 April 2011.

Submissions should take into account the additional guidance material released by the Board and the terms of reference for the review.

Submissions may be sent to:

Email: taxboard@treasury.gov.au

Facsimile: (02) 6263 4471

Post:

Review of Rights to Future Income and Residual Tax Cost Setting Rules
The Board of Taxation
c/- the Treasury
Langton Crescent
PARKES ACT 2600

Contacts:

Sean Lee 
Board of Taxation Secretariat
Telephone (02) 6263 3246
e-mail: taxboard@treasury.gov.au

Simone Abbot
Board of Taxation Secretariat
Telephone (02) 6263 3816
e-mail: taxboard@treasury.gov.au