The Australian Treasury has launched a public consultation on a draft bill that aims to expand and increase penalties for promoters of tax exploitation schemes. The draft legislation is mainly in response to the PwC tax leaks scandal (previous coverage). The deadline for comments is 4 October 2023.
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Response to PwC – reform of promoter penalty laws
The government has released exposure draft legislation that amends the Taxation Administration Act 1953 (TAA) to deliver part of the gover…