Tax administration
(Generally, for transactions dated after 1 March 2002)
Currently, each tax law administered by the Office of State Revenue contains separate provisions dealing with the administration of that law, which results in duplication and inconsistencies. Additionally, existing provisions do not always reflect or adequately address current taxation practice or technological advances.
The Taxation Administration Act 2001 provides a foundation for improvement in tax administration by providing the administrative provisions which support the Duties Act 2001 and, progressively, the Pay-roll Tax Act 1971 and the Land Tax Act 1915. Additionally, the arrangements currently contained in the Revenue Laws (Reciprocal Powers) Act 1988 are incorporated in the Taxation Administration Act 2001.
The Taxation Administration Act 2001 is part of a legislative package and must be read together with the Duties Act 2001 as each Act supports the operation of the other.
The Taxation Administration Act 2001 will result in improved arrangements for taxpayers and their advisers, lower compliance costs in meeting taxation obligations, recognition of the effect of technological and business changes on taxation administration, achievement of greater consistency across taxes and improved administrative efficiency.
