Reconsidering the Commissioner's remedial power
Source: Taxation In Australia Journal Article
Published Date: 1 Feb 2020
In February 2017, the Commissioner's remedial power (CRP) was introduced into Div 370 of Sch 1 to the Taxation Administration Act 1953 (Cth). The CRP was intended to provide a mechanism to resolve the growing number of unintended outcomes and deficiencies within Australia's tax system (without having to inundate the limited parliamentary and Treasury resources). The explanatory memorandum to the Bill that became the Tax and Superannuation Laws Amendment (2016 Measures No. 2) Act 2017 (Cth) estimated that the CRP may be used up to 10 times per annum. However, to date, the CRP has only been successfully exercised twice " highlighting a discrepancy between its policy intent and operation. This article examines the effectiveness of the CRP and suggests that it needs to be reconsidered to ensure that it can operate as intended and alleviate the significant legislative uncertainty borne by taxpayers.
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
Details
- Published By: Nathan De Zilva
- Published On:1 Feb 2020
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
Share this page