Media release Nat 2006/35
The benefits of a more open working relationship between the Tax Office and corporate Australia were welcomed by all at the jointly sponsored Large Business Symposium held in Sydney today.
Over 100 guests attended the Symposium co-hosted by the Corporate Tax Association and the Tax Office, including tax advisors from Australia's top companies, Treasury and New Zealand Inland Revenue.
"We recognise the significant contribution large business makes to Australia's revenue, and the important role it plays in tax administration," Tax Commissioner, Michael D'Ascenzo told the guests.
"We have invested a great deal of time working with them to identify how we can improve our services, and the way we interact with them while ensuring they pay tax properly due under the law.
"Today's discussions have been very positive and will guide our interactions in the future."
Corporate Tax Association President, Brendan Mulqueen, welcomed the Tax Office's willingness to revamp the approach to working with large business.
"The new approach gives our members more time to get on with doing business without the costs and disruption of lengthy audits.
"The commitment to reduce audit timeframes with agreed project plans is a positive step forward and goes a long way to addressing concerns voiced by large businesses in the past."
Today's symposium and the development of the new Large business and tax compliance booklet also released today, are the result of extensive consultation between the parties.
"We are encouraged by the new approach, however, there are still matters that require clarification including the use of the Tax Office's coercive information gathering powers.
"We will continue to monitor the experiences our members have with the Tax Office, and offer constructive feedback and advice through ongoing consultation," Mr Mulqueen said.
In closing the Symposium today Tax Commissioner Michael D'Ascenzo praised the efforts of all involved and undertook to take on board the feedback and suggestions made by the participants.
"We know that by listening to industry groups, tax advisers and businesses we can continue to make improvements that will benefit tax administration and, in the long term, influence compliance behaviour," Mr D'Ascenzo said.
Last Modified: Wednesday, 30 August 2006