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November 24, 2005

Australian tax law to be culled

The Treasurer has announced the Government plans to cut tax law by “close to 30 per cent”.

The advisory Board of Taxation has been reviewing the tax legislation with a view to initiating ways to promote the ease of use of the income tax law.

The Board has now provided a report to the Government on provisions of the tax law that are inoperative and can be repealed. The Board estimates that up
  to 28 per cent, or 2,100 pages, of the Attorney-General’s Department’s ComLaw version of the combined Income Tax Assessment Acts can be repealed.

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Posted 24th November 2005 by David Jacobson in Business Planning