Date posted: 12/08/2022 5 min read

Have your say: open Australian consultation items

Help shape Australian tax policy, legislation and administration

In brief

  • The CA ANZ Tax Team welcomes members’ feedback on Australian consultation items

Senate Economics Legislation Committee

Treasury Laws Amendment (Electric Car Discount) Bill 2022 [Provisions]

Treasury Laws Amendment (Electric Car Discount) Bill 2022 has been referred to the Senate Economics Legislation Committee for inquiry and report by 2 September 2022. The Bill amends the Fringe Benefits Tax Assessment Act 1986 to exempt from FBT the use, or availability for use of cars that are zero or low emissions vehicles made available by employers to current employees. If you have comments on the Bill, please send them to the CA ANZ Tax Team AU by 12 August 2022.

Consultation closes 17 August 2022.

Treasury

Multinational tax integrity and tax transparency

Treasury has released a discussion paper to consult on the implementation of the Government’s proposals to:

  • amend Australia’s existing thin capitalisation rules to limit interest deductions for MNEs in line with the Organisation for Economic Cooperation and Development (OECD)’s recommended approach under Action 4 of the Base Erosion and Profit Shifting (BEPS) program (Part 1);
  • introduce a new rule limiting MNEs’ ability to claim tax deductions for payments relating to intangibles and royalties that lead to insufficient tax paid (Part 2); and
  • ensure enhanced tax transparency by MNEs (Part 3), through measures such as public reporting of certain tax information on a country‑by‑country basis; mandatory reporting of material tax risks to shareholders; and requiring tenderers for Australian government contracts to disclose their country of tax domicile.

If you have feedback on the discussion paper, please send them to the CA ANZ Tax Team AU by 19 August 2022.

Consultation closes 2 September 2022.

Tax Practitioner Board (TPB) consultations

Exposure Draft TPB Information Sheet TPB(I) D50/2022: Code of Professional Conduct – Confidentiality of client information

This draft is an update to the existing TPB Information Sheet TPB(I) 21/2014 Code of Professional Conduct – Confidentiality of client information. The TPB has now included guidance on how the confidentiality obligations apply to tax practitioners when they disclose information under the tax whistleblowing laws and non-compliance with laws and regulations (NoCLAR) framework – see paragraphs 29 to 41 and Examples 7 and 8 in this draft Information Sheet.

Consultation closes 12 September 2022

Exposure Draft TPB Information Sheet TPB(I) D48/2022: What is a tax agent service?

This draft information sheet assists entities to determine if they are providing a tax agent service and whether they need to register with the TPB.

Consultation closes 12 September 2022

Exposure Draft TPB Information Sheet TPB(I) D47/2022: What is a BAS service?

This draft information sheet assists entities to determine if they are providing a BAS service and whether they need to register with the TPB.

Consultation closes 12 September 2022

Contact the CA ANZ Tax Team AU

Throughout the year we ask for members’ thoughts and feedback on consultation items. If an item is of interest to you or your clients, let us know your thoughts.

We'd love to hear from you