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  2006

Review of Self-Assessment

Source: QLD

Published Date: 13 Mar 2006

 
Last year, Treasury issued a report, Review of Self Assessment (ROSA), recommending fundamental changes to the way in which the self-assessment system works. Essentially, Treasury was given the brief of examining how the ATO deals with taxpayers, and what could (or should) be done better. Many of the changes which were recommended by ROSA have already been legislated, and the ATO has committed to change its processes to respond to the rest of the recommendations.

This means that fundamental changes have occurred in the areas of General Interest Charge, Penalties and Amendments of Assessments. The private ruling provisions have been completely re-written, allowing for greater scope to apply for private rulings, to increase certainty for your clients. This seminar looked at ROSA, and what these changes mean to the tax profession.

Topics covered include:
- how to work out whether the ATO is out of time to re-assess your clients under the new regime?
- what has changed in relation to penalties (and what remains the same)?
- how does the new Shortfall Interest Charge operate, and when will it be imposed?
- how has the private ruling process changed (and has it changed for the better)?
- is anything else set for a shake-up as a result of ROSA?

Review of self-assessment

Author(s): Craig Bowie CTA
Materials from this session:

Review of aspects of income tax self assessment

Author(s): Michael O'Shannassy
Materials from this session:

Details

  • Published On:13 Mar 2006
  • Took place at:The Chifley at Lennons, Brisbane

The material is copyright. Apart any fair dealing for the purpose of private study,

research critisism or review, as permitted under the copyright Act, no part may be rerpoduced 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.

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

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

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