Tax Commissioner’s proposed ‘remedial power’
Treasury and the ATO have established a working group with the private sector to look at creating a ‘statutory remedial power’ for the Tax Commissioner.
This remedial power would provide a mechanism for resolving unintended and anomalous outcomes in the tax law more quickly than is possible through legislative amendment.
The power may also have a broader benefit for the tax system, by allowing minor technical corrections that wouldn’t otherwise happen.
Once the working group finalises its considerations, Treasury will advise the Government on whether such a power is appropriate and, if so, what form it could take.
The ATO has said that it is interested in hearing thoughts from the general public.