The Board has a broad and varied work programme encompassing the following:
- Reviewing and reporting on specific issues as and when requested by the Treasurer.
- From time to time, the Board provides real-time policy advice to the Government, including in relation to major tax policy issues such as Budget measures, significant economic initiatives and the tax reform process.
- Supporting the Government’s tax regulatory reform agenda
The Board maintains a number of working groups, constituting Board members, tax professionals and representatives from the ATO, Treasury and academia, who meet regularly to carry out this work.
Board members also frequently participate in a range of events across the country.
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’s Regulatory Reform Working Group offers advice to the Treasurer on opportunities to reduce red tape in the tax system. The Board also plays a role in reviewing the performance of Australia’s tax system regulator, the Australian Taxation Office.
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The Board’s Tax Policy Development Working Group was set up to provide the Government with advice on ways to:
- - Improve the tax policy development process
- - Better support the development of community consensus around a long-term tax agenda; and
- - Reduce complexity in the tax system.
The Tax Policy Development Working Group comprises senior private sector participants, members of the academic community, the judiciary, Australian Taxation Office (‘ATO’) and Treasury.
The Working Group provided its recommendations to Government in February 2016.