Can government fix it: policy improvements

Exempt Current Pension Income and Actuary's Certificates

In order for income of a Superannuation fund to be treated as exempt current pension income (ECPI) and therefore be exempt from income tax, section 295-385 of the Income Tax Assessment Act 1997 requires the trustee of the fund to obtain an actuary's certificate. Obtaining such a certificate is burdensome both from a timing and compliance cost perspective. Propose a statutory formula be developed in place of this requirement.

Overhaul Interest on Overpayments

The Board is interested in getting a better understanding of what the biggest irritant are when dealing with this regime. It would be great if the community could please provide some examples.


Overhaul Interest on Overpayments

The Interests on Overpayments (IOP) regime needs to be overhauled. The current system is difficult to understand and administratively complex.

Dental industry cheats

I'm not sure if the government realises the amount of money lost every year in the dental industry.

Today most of the crown and bridge work is sent to China for manufacturing for nothing and I believe that the public/ authorities do not realise.

Everyday bags and bags of impressions are sent via couriers, most of the time transiting through large australian based companies.

The work is manufactured in large labs overseas and sent back within a week or 2 approx.

I believe that being less than $1000, the work doesn't get taxed.

Payroll Tax Reporting - National System

Currently, employers must collect and report monthly wages information and annual reconciliations for each State using various systems/forms. Members of a group then also require a Designated Group Employer (“DGE”) to lodge a separate annual reconciliation for each State summing the wages information for every group company both in the relevant State as well as Australia wide (in order to apply State payroll tax thresholds on a group basis).