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Exposure Draft Bill - Civil Penalty Framework to Deter Promotion of Tax Exploitation Schemes

Date:

Wednesday, 10 August 2005

Content ID:

1007

Abstract:

On December 2003 the Government announced that it would introduce a new legislative framework to empower the Commissioner of Taxation to apply to the Federal Court for civil penalties and injunctions against the promoters of tax exploitation schemes.

The exposure draft Bill introduces three measures – civil penalty, statutory injunction, or voluntary undertaking – that may apply to a promoter or implementer of a tax exploitation scheme.

Targeted confidential consultation was previously undertaken and the exposure draft Bill has been refined taking into account comments received.

The public may comment on the draft provisions and accompanying explanatory material on the proposed framework for promoters or implementers of tax exploitation schemes.

Submission closing date: 2 September 2005

Address written comments to:

The General Manager
Tax System Review Division
The Treasury
Langton Crescent
PARKES ACT 2600

Fax: 02 6263 3860

Email: promoterpenalties@treasury.gov.au

Documents Available:


Acrobat (PDF) documents

 Acrobat (PDF)

Civil Penalty Framework to Deter Promotion of Tax Exploitation Schemes - Exposure Draft Bill  40.30kb
Civil Penalty Framework to Deter Promotion of Tax Exploitation Schemes - Explanatory Material  76.06kb

Microsoft Word (RTF) documents

 Microsoft Word (RTF)

Civil Penalty Framework to Deter Promotion of Tax Exploitation Schemes - Exposure Draft Bill  102.83kb
Civil Penalty Framework to Deter Promotion of Tax Exploitation Schemes - Explanatory Material  316.63kb

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