Recommendations

Joint Committee of Public Accounts and Audit

Tax Law Improvement Bill (No. 2) 1997

Recommendations

Recommendation 1

The Tax Law Improvement Project should compile and maintain a publicly available register of unintended consequences arising from tax law improvement legislation. The register should include information indicating when the unintended consequence was identified, the severity of the consequence, if and when it is intended to amend the legislation, and the alternative measures being taken in the interim. (Paragraph 2.8)

Recommendation 2

The operation of subclause 123-60(5) be examined to determine whether the provision can be made more appropriate in its scope and to overcome potential compliance difficulties. (Paragraph 2.24)

Recommendation 3

Subclause 118-425(4) be amended to require taxpayers making a choice under this subclause to specify the relevant amounts in writing. Subsection 103-25(3) should be amended accordingly. (Paragraph 3.6)

Recommendation 4

Subclause 123-80(1) be amended so that the phrase 'in the course of', used in the original legislation, be retained. (Paragraph 3.11)

Recommendation 5

The now retitled Tax Law Improvement Act (No. 1) 1998 be amended to incorporate the Tax Law Improvement Project's proposed change to Division 123 concerning the alignment of the treatment of depreciable and other assets. (Paragraph 3.22)