Inquiry reviewing a range of taxation issues within Australia
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Terms of Reference
The Joint Committee of Public Accounts and Audit resolves to inquire into and report on the following:
Part A
The administration by the Australian Taxation Office (ATO) of the Income Tax Assessment Act 1936 and 1997 (including the amendments contained in the Tax Laws Amendment (Improvements to Self Assessment) Bill (No. 2) 2005) with particular reference to compliance and the rulings regime, including the following:
- the impact of the interaction between self-assessment and complex legislation and rulings;
- the application of common standards of practice by the ATO across Australia;
- the level and application of penalties, and the application and rate of the General Interest Charge and Shortfall Interest Charge; and
- the operation and administration of the Pay As You Go (PAYG) system.
Part B
The Committee shall examine the application of the fringe benefit tax regime, including any “double taxation” consequences arising from the intersection of fringe benefits tax and family tax benefits.
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