THE Australian Parliament's House Tax and Revenue Committee review of the Australian Taxation Commissioner’s Annual Report for 2016–2017 is seeking final comments on the administration of Australia's tax system.
The committee’s annual review of the performance of the Australian Taxation Office (ATO) tests ATO reportage against evidence from taxpayers, tax experts, professionals and agency scrutineers, such as the Australian National Audit Office.
During the reporting period the ATO faced a series of setbacks. Major system outages occurred in late 2016, and again in February 2017. These were followed in May by Operation Elbrus revelations of alleged tax fraud.
Then, in April 2018, news reports on the ATO’s treatment of tax debt among several small and medium businesses, and its media response, brought out further criticism — including from the Inspector-General of Taxation.
Committee chair Jason Falinski MP said the ATO had been asked some tough questions during this review.
“With the inquiry drawing to a close, the committee now makes a final call to taxpayers and other stakeholders for feedback on ATO performance,” Mr Falinski said.
Topics of particular interest to the committee include the ATO’s fairness in management of tax debts and the dispute process, and the impact of IT transformation and platform issues — including blackouts for short durations.
Submissions should be lodged by Tuesday, October 9, 2018 on the committee’s website at www.aph.gov.au/taxrev or by contacting the committee secretariat on 02 6277 4821.
The 2017 Annual Report of the Australian Taxation Office is available at: www.ato.gov.au/About-ATO/Annual-report-2016-17/.
AUSTRALIA’s 80 gold medal-winning performances at the Gold Coast Commonwealth Games are "set to be matched by a growth in the value of Australian gold exports" Queensland Resources Council chief executive Ian Macfarlane has predicted.
“The projections are for Australian gold exports to reach $19 billion in 2019-20," Mr Macfarlane said. "During the Gold Coast Commonwealth Games, our athletes have ensured we have kept most of the gold medals here in Australia.
"The growth in jewellery, that accounts for almost half of global use of gold, is helping to drive growth,” he said.
Evolution Mining executive chairman Jake Klein backed up that prediction.
"Evolution is delighted to see so many elite athletes striving for and achieving gold at Queensland’s Commonwealth Games," Mr Klein said.
"Gold is awarded for the pinnacle of sporting achievement and, as Queensland’s largest gold producer, we have 700 Queenslanders across our sites striving to produce around 400,000 ounces of Queensland gold this year.”
In terms of the Queensland Resources Council’s Value of Production Index, gold is a positive contributor to the strong growth in resources to the Queensland economy.
“The Production Index has increased by $2.5 billion - or 17 percent - over the previous quarter," Mr Macfarlane said.
"We are also seeing growth in zinc, copper, lead, aluminium, gold and silver."
Mr Macfarlane said the Queensland resources sector provides one in every $6 in the Queensland economy, sustains one in eight Queensland jobs, and supports more than 16,400 businesses across the state "all from 0.1 percent of Queensland’s land mass".
Link to the Office of the Queensland Chief Economist report on gold.