The Government has today released an exposure draft of the Taxation Administration Regulations 2017and explanatory material.
The Taxation Administration Regulations 1976 are due to sunset on 1 October 2017 and will need to be remade so they continue to support the administration of Australia’s tax laws.
The exposure draft regulations will remake the current regulations whilst providing for ease of navigation, simpler language and removing duplicate or redundant provisions.
“These changes will bring the regulations in line with modern drafting practices without changing the substance of the existing provisions,” Minister O’Dwyer said.
The exposure draft regulations and explanatory material are available on the Treasury website.
Submissions close on Friday, 18 August 2017.
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