Key Documents
Consultation Summary - PDF 208 KB
Consultation Summary - DOC 128 KB
Explanatory Memorandum - PDF 55.98 KB
Explanatory Memorandum - DOC 102.5 KB
Exposure Draft - PDF 23.14 KB
Exposure Draft - DOC 45 KB
On 15 February 2012, the Assistant Treasurer announced that the Government will amend the tax law to allow the Commissioner of Taxation to hold refunds for verification prior to payment and has released exposure draft legislation for comment.
The exposure draft legislation seeks to provide the Commissioner with discretion to retain refunds for the period required to undertake checks to verify the correctness of the amount claimed. Certain threshold tests must be met before this discretion can be exercised. The discretion would apply in relation to refunds and payments arising under all taxation laws that the Commissioner administers.
Submissions
12 submissions were received for this consultation.
- Alandal Consulting - pdf 184.21 KB
- BDO - pdf 169.37 KB
- Corporate Accountants - pdf 14.25 KB
- CPA Australia - pdf 61.54 KB
- Dominion Private Clients - pdf 27.89 KB
- Financial Services Council - pdf 357.85 KB
- Mills Oakley - pdf 711.04 KB
- PKF - pdf 187.6 KB
- Property Council of Australia - pdf 34.88 KB
- The Institute of Chartered Accountants in Australia - pdf 611.16 KB
- The Tax Institute and Law Council of Australia - pdf 118.14 KB
- Waverley Council - pdf 214.02 KB
