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Australia Consults On Modifying Tax Commissioner's Powers

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

10 December 2015


The Australian Treasury is consulting on proposals to provide the Commissioner of Taxation with a statutory remedial power to modify tax law.

The proposed Commissioner's Remedial Power is designed to allow for the timely resolution of unforeseen or unintended outcomes in the application of tax and superannuation laws. Its aim is to ensure that tax laws can be administered consistently and in line with their purpose or object. The power would only be exercised as a last resort after all the other options available to the Commissioner have been considered and found not to provide a suitable solution.

The Commissioner would not be able to directly amend the text of primary legislation or alter or extend the purpose or object of the law. They would instead be permitted to modify the operation of a provision of a tax law where that modification is not inconsistent with the purpose or object of the provision, and any budget impact is negligible.

The Treasury is seeking views on the operation and administration of the proposed power. The closing date for submissions to the consultation is January 15, 2016.

TAGS: tax | law | budget | Australia | ministry of finance | legislation | transfer pricing

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