The government has launched a consultation on a draft bill, regulations, and an instrument proposing amendments to various tax laws, including the Inspector-General of Taxation Act 2003, the GST Act 1999, and the Excise Act 1901.
The proposed amendments aim to amend various Treasury portfolio regulations to correct drafting errors and unintended outcomes, repeal inoperative provisions, eliminate anomalies, correct unintended consequences within the legislation, and make other technical changes.
Miscellaneous and technical amendments are periodically made to Treasury portfolio legislation to correct errors and unintended outcomes, make technical changes, and improve the quality of Treasury portfolio legislation. The process was first supported by a recommendation of the 2008 Tax Design Review Panel, which considered ways to improve the quality of tax legislation. It has since been expanded to all Treasury legislation.
The consultation period will conclude on 31 January 2025.
