Scope The Review of Business Taxation (the Review) is charged in its terms of reference with obtaining certain objectives. These include making recommendations on:
- The fundamental design of the business tax system;
- The processes of ongoing policy making;
- Drafting of legislation; and
- The administration of business taxation.
The Review is to be commended in taking a broad approach in arriving at its recommendations, for business taxation is a concern of taxpayers in Australia ranging from the humblest farmer to the largest of corporations and their shareholders. The Review has rightly decided that the imposts falling on business and the resulting compliance cost is not limited to income tax alone but extends to other regimes, notably Fringe Benefits Tax.
