Partnering with tax profession key to future

SYDNEY, Thursday 12th March 2020: Tax Commissioner Chris Jordan AO addressed delegates at The Tax Institute’s Tax Summit today outlining the importance of the relationship between the ATO and the tax profession.

In response, Tax Institute President Peter Godber said, “We welcome the ongoing collaboration between the ATO and tax profession, now and into the future, particularly in supporting taxpayers facing difficult times beyond their control as we have seen recently.”

“As the representative of over 12,000 tax professionals, we agree tax professionals play a vital role in protecting the health of the tax and super systems. It is crucial that the relationship between tax professionals and the ATO works effectively now and into the future,” said Mr Godber.

“The Institute will continue to work for and with our members to strengthen trust between the profession and the ATO as tax professionals are paramount to the success of the tax system.”

High Wealth tax gap

The Commissioner announced the High Wealth Tax Gap at today’s Tax Summitt, noting Australia is the first jurisdiction internationally to do so.

In response, The Tax Institute’s Senior Tax Counsel, Professor Bob Deutsch CTA, said “We welcome the transparency that the release of the tax gap brings to the high net wealth market. With a broad range of tax gaps in the public domain now, this gives us more transparency in the tax system and insight into possible focus areas for ATO compliance into the future.”

The Tax Summit, Australia’s biggest convention for the tax and accounting profession, began on Wednesday, 11th March 2020 at the International Convention Centre in Darling Harbour and will continue until this Friday afternoon 13th March 2020.

Find out more about The Tax Summit at: https://info.taxinstitute.com.au/taxsummit

ENDS

For more information, please contact:

Azadeh Williams, Media Relations: azadehwilliams@taxinstitute.com.au

The Tax Institute is the leading forum for the tax community in Australia. Our reach includes membership of 12,000 tax professionals from commerce and industry, academia, government and public practice and 40,000 Australian business leaders, government employees and students. We are committed to representing our members, shaping the future of the tax profession and continuous improvement of the tax system for the benefit of all, through the advancement of knowledge, member support and advocacy. Read more at taxinstitute.com.au