23/01/2012 12:17:22 AM
Yasser El-Ansary -
Welcome to 2012, and welcome back to my blog for another year.
By any measure, 2011 was tough. But, believe it or not, indications are that 2012 is going to be even more challenging!
For starters, we have a new Assistant Treasurer, Senator Mark Arbib. The new minister has kicked-off his journey by familiarising himself with key issues he’ll have to make decisions about over the next few weeks and months. On his immediate agenda will be things like consolidations and rights to future income, reforms to the transfer pricing and international tax rules, and amendments to the corporations law dealing with dividend payments.
Also, he will soon have to decide on the composition of the new Tax System Advisory Board that will work with the Commissioner of Taxation to help improve the operation of the ATO and whether or not to implement a new tax advice statutory privilege framework for registered tax agents. (Members will recall the Institute has been advocating for this for many years).
All of these are major issues in their own right, but collectively, will have a significant bearing on a wide cross-section of taxpayers and advisers right across Australia. It will be vitally important that the new Assistant Treasurer makes his decisions armed with all of the right data to help inform the basis for his views.
Over the next few weeks, the Institute will spend time with Senator Arbib and his team to explain our views on all of these issues. Spending time briefing a new minister helps us to do our own ‘stocktake’ of the key issues that we need to focus on, too.
Currently, the Institute's tax team is hard at work on putting together our response to the first phase of the reform of the taxation of trusts project, as well as our pre-budget submission on tax and superannuation policy, which is due in the next few days. Be sure to stay close to the Institute's website for all the latest information about our work on these two projects.
Yasser El-Ansary (Member since: 12/05/2011 2:38:56 AM)
As General Manager of Leadership & Quality at the Institute, I'm responsible for leading the Institute’s public policy team across a wide variety of disciplines dealing with major issues that impact businesses and the broader economy. I work closely with the federal government and its agencies on policy and administration matters, as well as other regulatory bodies both within Australia and abroad. Prior to my current role I was the Institute's Tax Counsel. I've held previous positions with Australand Holdings Limited, PwC, the federal department of the Treasury and Rio Tinto Limited.
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happy new year yasser, hope 2012 is a prosperous one.
There are so many tax issues still unresolved from last year and the change in minister hope will not slow down the winds of change
The re-write of trust income taxation needs to be high on the agenda but I fear the rushed and overly complex legislation passed at the eleventh hour is here to stay for many years
Well done for all your great work and all keep it up in 2012
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