Campaign: Tax System Improvement

Correcting GST Errors

The current time and value limits for correcting prior period GST debit errors range from 12 - 18 months and $10K to $450K depending on GST turnover. Where these limits are exceeded however, taxpayers are required to correct every impacted Business Activity Statement (BAS) lodged in the previous four years. This increases compliance costs for both taxpayers and the ATO. Propose therefore that both the time and value limits ...more »

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Campaign: Tax System Improvement

GST and Joint Ventures

GST law does not adequately deal with joint ventures (JVs) and in particular, the use of multiple JVs within the oil and gas industry. To reduce complexity and achieve a revenue neutral outcome, propose the amendment of Division 48 of the GST Act to allow commonly operated GST JVs and/or GST JVs involved in common project developments to form a GST Group. Alternatively, amend the existing GST JV provisions of Division ...more »

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Campaign: Tax System Improvement

Tax Reform, and tax mix

The Tax White Paper process may be ended, but the structural tax problems remain.

We encourage governments to pursue structural tax reform - particularly focusing on our outdated tax mix and the problems articulated in the Re:think paper re aging population, our over-reliance on income taxes and under-reliance on taxes on consumption.

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