Become a Member
Membership
Education
Events
Resources
Tax Knowledge Exchange
About us
Contact us
  Miscellaneous 2006

TLIP: Lip service or in service? A review of the non-commercial loss and STS measures against the TLIP principles

Source: Australian Tax Forum Journal Article

Published Date: 1 Apr 2006

 
In order to address criticisms about the extraordinary complexity of the Australian income tax system, the Federal Government embarked on an ambitious mission in the mid-1990s to simplify the income tax legislation. Part of this response was the creation of the Tax Law Improvement Project (‘TLIP’) taskforce to rewrite the Income Tax Assessment Act 1936 (‘the 1936 Act’) into plain English. The rewrite project was to have been accorded priority until its ultimate completion; however, in 1998 there was a major diversion of resources away from the income tax act’s rewrite in order to implement the new Tax Reform measures. This resulted in the rewrite project being set aside and left incomplete; yet, new provisions have continued to be inserted into the Income Tax Assessment Act 1997 (‘the 1997 Act’).
Author(s)

Sorry, this is subscriber only content.

To gain access to this material and much more - Subscribe Now.

(Note: Members can access Taxation in Australia journal articles without a Tax Knowledge Exchange subscription - please log in to access).

Already a Subscriber? Login now

Subscribe Now

Already a Subscriber? Login now

Download

Details

The material is copyright. Apart any fair dealing for the purpose of private study, research criticism or review, as permitted under the copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.

Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

The Tax Institute
(ABN 45 008 392 372 (PRV14016))

("TTI")

The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009. 

Copyright Statement

All materials provided on this site are protected by copyright and are owned by or licensed to TTI.

Except as expressly permitted by TTI or the copyright owner, any person or company who uses this site must not use, reproduce, redistribute, retransmit, publish or otherwise transfer, or commercially exploit, the materials or any information, software or other content, in whole or in part, which is available through this site.

Tags

Miscellaneous 2006

Share this page