List of Recommendations
Recommendation
1.30 The Committee recommends that the
Government provide the ATO with the necessary powers to enable it to apply to
the courts for injunctive relief to prevent the marketing of and investment in
tax abusive arrangements contrary to the law.
Recommendation
1.52 The Committee recommends that, to
strengthen lines of communication with the tax industry and market, the ATO
establish formal procedures for indicating its concerns about emerging
compliance risks through peak bodies and other forums such as the National Tax
Liaison Group.
Recommendation
1.59 The Committee recommends that the ATO
include information about tax effective schemes in the TaxPack to
improve general taxpayer awareness of the issues and potential risks
surrounding tax effective schemes. This information should highlight the ATO’s
powers at law to review tax returns after deductions have been paid.
Recommendation
2.68 The Committee recommends that a review
be conducted into the nature and extent of the public interest responsibility
that tax professionals should adopt for the integrity of the tax system. The
review should be conducted by an appropriately qualified person, who should
consult with the Board of Taxation, the ATO, the tax profession and other
relevant business and community bodies. The review should include consideration
of the issues of tax planning and the mass marketed schemes episode.
Recommendation
3.36 The Committee recommends that the ATO,
in consultation with the Taxation Institute of Australia, the Commonwealth
Ombudsman and other relevant bodies, develop measures to educate taxpayers
about their obligations and rights in the self-assessment environment.
Particular attention should be given to ensuring that taxpayers are made aware
of the period over which the ATO may review their returns and amend their
assessments. Further to the recommendation at paragraph 1.59, information about
the ATO’s power to review and amend assessments, and the time periods that
apply, should be clearly stated in the TaxPack and on notices of
assessment sent to taxpayers.
Recommendation
3.48 For this reason, the Committee
recommends that the test case Litigation Panel publish the criteria in the
light of which it will recommend cases for funding and publish the reasons for
its recommendations in particular cases.
Recommendation
3.51 The Committee recommends that the
Government undertake an analysis of the adequacy of current mechanisms for
obtaining judicial resolution of disputed or contentious tax law
interpretation. This analysis should include consideration of whether and how
the ATO might obtain a legal judgement without having to be taken to court by a
taxpayer objecting to an ATO determination, and consideration of the merits of
establishing a specialist federal tax court.
Recommendation
4.78 The Committee recommends that the
government seek advice from both ASIC and the ACCC on the question of the
adequacy of the current measures for monitoring the schemes market, with
particular reference to agribusiness and franchise schemes. This advice should
address matters such as the role of specific industry associations and the
Australian Managed Investments Association in ensuring that compliance and
disclosure obligations are met, the development and publication of further
benchmarking measures which draw on industry wide standards and expertise, and
any other measures required to ensure the adequate protection of investors in
this sector.
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