Government Announcements
2009-10 Budget: tax law improvements
12.05.2009
The Government has announced a range of measures in the 2009-10 Budget as part of its ongoing efforts to improve the operation of the tax law.
The following measures were announced to cut compliance costs for business, strengthen the integrity of the tax system and further streamline the tax law design process:
- amendments to the off-market share buyback provisions in response to a Board of Taxation review;
- reform of GST administration in response to a Board of Taxation review;
- the repeal of unlimited amendment periods and a review of elections in the tax law; and
- a review into anti-avoidance provisions to ensure the integrity of the tax law.
For the text of the media release, click here.
