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2009 Submissions to Inspector-General of Taxation
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3 June 2009 - Submission on review of delayed or changed ATO views  
 
The Institute lodged a submission with the Inspector-General of Taxation for his review into any delayed ATO advice or changes to pre-existing views or practice on significant issues. .Some of the examples of issues raised by the Institute included:

  • Whether the retention of a trust of an unpaid present entitlement would be loan for Division 7A purposes
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  • Whether the definition of 'real property' includes a leasehold interest under Division 855 for the purposes of whether a capital gain or capital loss can be disregarded by a non-resident in relation to a CGT event happening to a CGT asset which is not taxable Australian property
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  • How financial supply providers determine their input tax credit entitlement for partly creditable acquisitions, i.e. apportionment
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  • The interpretation of the Commissioner's discretion to pay GST refunds in business to business transactions
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  • The process surrounding the withdrawal of Taxation Rulings IT 2442, IT 2451 and IT 2552 (the IT rulings), the key public rulings which outlined the Commissioner's views on the R&D tax concession.
20 May 2009 - Submission on review of private rulings on income tax matters 
 
The Institute has lodged a submission with the Inspector-General of Taxation in relation to his review of private rulings on income tax matters. Matters raised in the submission include that the private binding rulings (PBR) register serves an important role in assisting to provide the necessary checks and balances in taxation administration through greater transparency and consistency of the application of taxation laws, and that the current quality of ATO IDs would need to be improved before they could be viewed as a useful reference tool compared with the PBR register.  
 
6 February 2009 - Submission on suggested review topics for the Inspector-General of Taxation’s Program of Reviews 2009/10 
 
The Institute has lodged a submission on suggested review topics for inclusion in the Program of Reviews 2009/10 (work program) of the Inspector-General of Taxation (IGT). Suggested reviews are:
  • ATO administration of Substituted Accounting Periods (SAPs)
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  • ATO tax litigation and dispute practices
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  • ATO discretion to remit General Interest Charge (GIC) on GST
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  • ATO removal of Private Binding Rulings (PBR) register.