Tax Design Review Panel Announced In Australia

by Mary Swire, Tax-News.com, Hong Kong

11 February 2008

Australia's Assistant Treasurer and Minister for Competition Policy and Consumer Affairs, Chris Bowen, has announced the appointment of a Tax Design Review Panel, which will be charged with examining how to reduce delays in the enactment of tax legislation, and improve the quality of tax law changes.

The initiative forms part of a key election commitment to streamline the process of introducing tax legislation.

"Delays in implementing announced changes to tax laws have been a source of frustration to taxpayers and tax professionals, not to mention the lack of certainty they create for business investment," Bowen observed, going on to argue that:

"There were too many occasions where the previous government would publicly declare its intention to change the tax laws but failed to introduce such changes into the Parliament years down the track. Taxpayers should be able to have confidence that the tax laws reflect stated Government policy. Improved consultation at the earlier stages of tax laws changes will result in better law."

In conducting the review, the Panel will examine:

• Options to reduce the delay between the announcement of proposed changes to tax laws and the introduction into Parliament of associated tax legislation;
• How the quality of the law can be improved through enhanced community consultation, particularly in the development of tax policy changes prior to the announcement of specific changes; and
• Methods to increase community input into the prioritisation of changes to tax laws.

The Tax Design Review Panel will be chaired by Neil Wilson of PriceWaterhouseCoopers, and comprises Duncan Baxter of Blake Dawson and John Morgan of the Victorian bar, along with representatives from the Department of the Prime Minister and Cabinet, Treasury, Australian Taxation Office and the Office of Parliamentary Counsel.

It is the intention of the government that the panel will meet with various stakeholders to garner views, and comments from interested parties are welcomed. The panel expects to report its findings on 30th April, 2008.

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