Submissions

The Taxation Institute is the most respected and influential contributor to the development of tax policy and administration in Australia. As part of this contribution, we prepare top level submissions on tax policy, administration and technical matters at both Federal and State levels. Non-confidential submissions prepared from 1996 onwards and covering legislation, ATO and Treasury consultative documents and papers, as well as rulings, determinations and a range of other ATO opinion and guideline documents, are available here.

  • Exposure Draft of the Tax Agent Services Bill 2008 and accompanying materials

    01 Jul 2008

    The reform measures contained in the following documents are of enormous significance and impact to the Taxation Institute of Australia (Taxation Institute) and its members:

    • Exposure Draft of the Tax Agent Services Bill 2008 released on 29 May 2008 (Bill);
    • Exposure Draft of the Tax Agent Services (Consequential and Transitional Provisions) Bill 2008;
    • Tax Agent Services Regulations 2008;
    • Exposure Draft of the Tax Agent Services Bill 2008 and Tax Agent Services (Consequential and Transitional Provisions) Bill 2008 Explanatory Material (EM); and
    • Exposure Draft Explanatory Statement Statutory Rules 2008 (collectively the Reform Package).
    The Taxation Institute has been asked by various members who have participated in the consultation process to acknowledge the care and attention paid to the implementation of the new regime by Treasury and the respective Governments involved in creating the new regime. The reality is that an undertaking such as this involves many stakeholders with varying views and approaches. It is encouraging that Treasury has embraced each of those stakeholders and made a serious attempt to deal with their concerns. The Taxation Institute thanks Treasury and government officials for the time and commitment shown to this process and commends the process as an excellent example of approach and outcomes in terms of assessing a consultative model.

  • Joint professional body submission in relation to GSTD 2008/D1

    27 Jun 2008

    While the Professional Bodies express no opinion on whether supplies of breakfast bars are taxable or GST-free, we do wish to comment on the explanation of the classification decision provided in the Draft Determination. In general, we are disappointed with the following aspects of the Draft Determination: 1. It does not adequately address and discuss the relevant provisions of the legislation. 2. It does not acknowledge the considerable confusion surrounding the classification of ‘food known as muesli bars or health food bars, and similar foodstuffs’ since the inception of GST. 3. It is inconsistent with various ATO rulings; and the ATO’s on-line GST Food Guide (NAT 3338-07.2005).

  • Submission on Instalment Warrants

    20 Jun 2008

    The Taxation Institute of Australia (Taxation Institute) requests the Victorian State Revenue Office (VSRO) to consider and consult with the State Taxes Consultative Council (STCC) regarding the VSRO's views on the duty and land tax implication of the following instalment warrant arrangements.

  • Supplementary joint professional body submission in relation to TR 2008/D3

    12 Jun 2008

    The Professional Bodies have already lodged a joint submission commenting on Draft Taxation Ruling TR 2008/D3 (‘the Draft Ruling'). However, the Taxation Institute of Australia and the Institute of Chartered Accountants in Australia have received some additional comments on the Draft Ruling from members, which we consider should be addressed by the ATO.

  • Governance of Self Managed Superannuation Funds

    29 May 2008

     The Taxation Institute of Australia (‘Taxation Institute') is pleased to have this opportunity to provide you with our submission in response to your call for input on Self Managed Superannuation Funds (‘SMSF') governance issues.

    We strongly support your investigation into SMSF governance and are committed to working with the Government to ensure the integrity of the operation of the superannuation industry generally and, in particular, the SMSF sector.

  • Joint professional body submission in relation to TD 2008/D3

    23 May 2008

    A joint submission to the ATO in relation to Income tax: where a taxpayer has supplied or acquired property under an international agreement and that gives rise to a debt interest or an equity interest as defined for the purposes of Division 974 of the Income Tax Assessment Act 1997, does Division 974 bear upon the characterisation to be adopted for the purposes of the application of Division 13 of Part III of the Income Tax Assessment Act 1936 to the transaction?

  • Joint professional body submission in relation to TD 2008/D6

    21 May 2008

    A joint submission to the ATO in relation to Income tax:  is a taxpayer entitled to an income tax deduction under subsection 70B(2) of the Income Tax Assessment Act 1936 where a Stapled Security of the kind described in Taxpayer Alert TA 2008/1, is sold at a loss or upon the occurrence of an Assignment Event?

  • Temporary Residents and Superannuation

    21 May 2008

    The Taxation Institute of Australia (‘Taxation Institute') welcomes this opportunity to provide you with its feedback in response to Treasury's Temporary Residence and Superannuation Consultation Paper (‘Consultation Paper') issued on 5 May 2008.

  • A submission in relation to SMSFR 2008/D1

    20 May 2008

    We welcome this opportunity to outline our views on this draft Ruling, which examines the operation of certain provisions in the Superannuation Industry (Supervision) Act 1993 (Cth) (‘SISA') where unpaid present entitlements (‘UPE') owing from related trusts to self managed superannuation funds (‘SMSF') are not paid and payment is not sought.

  • A submission in relation to SMSFR 2008/D2

    20 May 2008

    The Taxation Institute of Australia (‘Taxation Institute') is pleased to provide you with its feedback on Draft Self Managed Superannuation Funds Ruling SMSFR 2008/D2 (‘draft Ruling'), which examines the application of section 66(1) of the Superannuation Industry (Supervision) Act 1993 (‘SISA') to contributions of assets to a self managed superannuation fund by a related party of that fund.

  • Joint professional body submission in relation to TD 2008/D7

    09 May 2008

    A joint professional body submission in relation to TD 2008/D7: Income tax:  is an exceptional circumstances relief payment paid to a farmer under the Farm Household Support Act 1992 ‘assessable primary production income' under subsection 392-80(2) of the Income Tax Assessment Act 1997?

  • Joint professional body submission in relation to TD 2008/D5

    05 May 2008

    A joint professional body submission sent to the ATO in relation to the draft tax determination TD 2008/D5 in relation to Income tax: capital gains: does CGT event C2 happen as a result of the satisfaction of an investor's rights under a Deferred Purchase Agreement warrant, an investment product offered by financial institutions, by the delivery of the Delivery Assets?

  • Review of the National Innovation System

    30 Apr 2008

    A submission sent to the Review of the National Innovation System in the Department of Innovation, Industry, Science and Research, regarding the Review of the National Innovation System.

  • Joint professional body submission in relation to TD 2008/D2

    11 Apr 2008

    A joint professional body submission sent to the ATO in relation to the draft tax determination TD 2008/D2 Income tax: Division 7A of Part III of the Income Tax Assessment Act 1936 - what is the meaning of 'because' in the context of the expression 'because the entity has been such a shareholder or associate at some time' in relation to payments, loans and debt forgiveness with former shareholders of a private company?

  • Tax Design Review Panel - Consultation paper

    03 Apr 2008

    Submission sent to Treasury in relation to Tax Design Review Panel - Consultation Paper. Contributing to the development of processes and procedures targeted at reducing delays in the enactment of tax legislation and the improvement of the quality of the tax law changes.

  • Foreign hybrid measures to a limited partnership (LP)

    02 Apr 2008

    This is a submission to Treasury on the application of the foreign hybrid measures to a limited partnership (LP) arising from the NTLG Foreign Source Income Subcommittee meeting of 4 December 2007.