Campaign: Tax System Improvement

wine tax

Whilst the Commonwealth Government has proposed to address integrity concerns with the wine equalisation tax (WET) rebate (by reducing rebate caps and tightening eligibility criteria) , these reforms do not address the underlying problems caused by the WET to the competitiveness Australian wine industry from the needlessly high compliance costs and distortionary economic impacts. Australian industry leaders have identified ...more »

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Campaign: Tax System Improvement

Remove requirement to complete W1 label on BAS

For large withholders, the total salary and wages amount recorded at label W1 on a Business Activity Statement (BAS) is not used for the purposes of any calculations within the BAS. However, conducting the calculations required in order to complete this label can be administratively burdensome. Propose that the requirement to complete this label be removed for large withholders.

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Campaign: Tax System Improvement

Excise Production Threshold

Currently excise applies to crude oil and condensate produced from onshore petroleum fields. Production below a threshold of 30 million barrels per field is excise-free, but producers must still register as manufacturers of excisable goods. This means that onshore producers must meet the ongoing verification, administrative and compliance requirements imposed by the excise regime. Decrease the unnecessary compliance burden ...more »

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Maturation Requirements in the Excise and Customs Acts

Section 105A of the Customs Act 1901 applies a maturation requirement for imports of brandy, whisky and rum that mirrors section 77F1 of the Excise Act 1901. This requirement imposes an unnecessary administrative burden on both the importers of these spirits and the Department of Immigration and Border Protection and effectively works against the movement of goods between countries. Furthermore, the broad definition of ...more »

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Consolidations - Deferred Tax Liabilities and Tax Cost Setting

The inclusion of deferred tax liabilities in the tax cost setting process adds complexity to the consolidations regime and results in a mismatch of tax and commercial outcomes. Propose deferred tax liabilities be excluded from the entry and exit tax cost setting calculations.

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Exempt Current Pension Income and Actuary's Certificates

In order for income of a Superannuation fund to be treated as exempt current pension income (ECPI) and therefore be exempt from income tax, section 295-385 of the Income Tax Assessment Act 1997 requires the trustee of the fund to obtain an actuary's certificate. Obtaining such a certificate is burdensome both from a timing and compliance cost perspective. Propose a statutory formula be developed in place of this requirement. ...more »

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GST and Dealer Incentives

There is considerably uncertainty in the automotive industry as to which dealer incentives are subject to GST and which are not. Amend GST law to provide clarity by ensuring all dealer incentives are subject to GST.

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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

Pay as you go instalment calculations

The current pay as you go (PAYG) instalment calculations represent a substantial compliance burden. Simplify the various methods to calculate PAYG instalments by, for instance, basing them off accounting profit figures.

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Dental industry cheats

I'm not sure if the government realises the amount of money lost every year in the dental industry. Today most of the crown and bridge work is sent to China for manufacturing for nothing and I believe that the public/ authorities do not realise. Everyday bags and bags of impressions are sent via couriers, most of the time transiting through large australian based companies. The work is manufactured in large labs overseas ...more »

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Transparency and C Form update opportunity

A combination of new transparency and reporting by large businesses, IT systems investments at ATO and the rise of data analytics creates an environment for ATO, in collaboration with large businesses, to review and update the C Form to eliminate reporting duplications (e.g. IDS), lower compliance costs and provide more useful information that could be accessed directly from accounting systems.

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Guidance on Forgiveness of Div7A Loans Owed by Deceased Estates

Suggest the ATO provide further guidance on its current position regarding forgiveness of Div 7A loans owed by deceased estates and the consequences of not meeting minimum repayments, especially where the deceased is a former shareholder and the estate does not have shares in the company

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