The Board of Taxation is pleased to release the papers presented at the “Tax Value Method Consultative Conference” that was held on the 23-24 July 2001. As was foreshadowed in the course of the Conference, also released with these papers is a rejoinder from the Board’s TVM Legislative Group that clarifies and responds to issues raised by some of the presenters. The Conference papers and rejoinder can be obtained from the Board’s website at www.taxboard.gov.au.
The Chairman of the Board, Mr Dick Warburton, has expressed his thanks to the presenters for their contribution in making the Conference a success and to the attendees who took time from their busy schedules to attend. The Conference was attended by approximately 100 delegates, including representatives from large and small business, the tax and accounting professionals and Government agencies.
The objectives of the Conference were to promote a better understanding of the Tax Value Method (the TVM) concept and the rationale for developing it, as well as to elicit views on the critical issues that still need to be addressed or tested to determine the TVM’s relative merits. The Board considers these objectives were achieved. There was, in particular, a lively debate about the conceptual underpinnings of the TVM, the potential relationship between the TVM and accounting principles, and, above all the potential costs and benefits in adopting the concept.
The Board will be taking all views into account in determining future processes needed to effectively evaluate the idea.
The Board welcomes any comments from interested parties on the papers and the rejoinder. Comments can be sent to:
The Board of Taxation
c/- The Treasury
PARKES ACT 2600
Alternatively, comments can be e-mailed to the Board of Taxation Secretariat (firstname.lastname@example.org).