Tax System Governance

• Commitment to a principles-based approach to tax laws design (August 2010): The Government will address concerns regarding the volume and complexity of tax law and assist in the interpretation of the law in line with its policy objectives, by committing to a principles-based approach to tax law design. [Consistent with recommendation 112 of the tax review.]
• Empowering of the Board of Taxation to initiate its own reviews (August 2010): The Government will boost and reshape the role of the Board of Taxation, by empowering it, in consultation with the Government, to initiate its own reviews to examine how current tax policies and laws are operating. [Consistent with recommendation 113 of the tax review.]
• Establishment of the Tax System Advisory Board (August 2010): The Government will enable the Australian Taxation Office to benefit from a wider range of perspectives and experiences, by establishing a Tax System Advisory Board. [Consistent with recommendation 115 of the tax review.]
• Establishment of the Australian Charities and Not-for-profits Commission (2011-12 Budget): The Government will improve regulation and reduce red tape for the not-for-profit sector, by establishing the Australian Charities and Not-for-profits Commission. [Consistent with recommendation 41 of the tax review.]
• Introduction of a statutory definition of 'charity' (2011-12 Budget): The Government will provide greater certainty for the not-for-profit sector, by introducing a statutory definition of 'charity'. [Consistent with recommendation 41 of the tax review.]