The Tax Institute is progressing a review of our own Technical Committee structures and ways to link, support and involve our membership in this new consultation environment. A draft framework is being developed for consideration and input from the state councils, committees and members involved.
Consultation with the ATO is important and The Tax Institute’s role in this was acknowledged by the Commissioner in our regular catch-up, but the Institute’s consultation role extends much further to consulting with Treasury, other arms of government, international bodies and business.
Our new parliament is being formed and new faces in new roles require reconnections and then links to what will be the priorities of government. It has not gone unnoticed that we still have a backlog of tax measures to be addressed, not to mention areas requiring reform, such as trusts and Div 7A. As the new government comes to terms with its agenda and outstanding matters, we will cement our role with the new government to ensure that we continue to be regarded as the leading professional body in tax. Your involvement and input into consultation greatly assists to support the policy function of The Tax Institute — particularly given the finite resources in-house. Our Tax Policy and Advocacy team values your input and encourages new and continued participation from members.
Again, thank you to all those who have assisted in the ATO consultation review process and also for your patience in waiting for clarity on the “new” framework.
Till next time.
Stephen Westaway is President of the National Council at The Tax Institute.
The Tax Institute is Australia's leading professional association in tax. Its 13,000 members include tax agents, accountants and lawyers as well as tax practitioners in corporations, government and academia.