Contact: Miquel Timmers
Deloitte
Tax Policy Partner
0418 555 900
Contact: Amanda Kennedy
Deloitte
Media and Communications Manager
0418 806 477 Formalising the way public servants consider compliance costs when developing policy is a welcome outcome from the Government’s response to the red tape taskforce today.
"The Business Cost Calculator responds to legitimate concerns by business that the cost of complying with new regulations is largely ignored and often not considered at all," Mr Timmers said.
"The Treasury has been particularly noted for lagging behind in considering compliance in relation to tax law changes."
"Successful tax policy should not only addresses the policy need but the way it will work in practice and the cost of compliance should not outweigh, or be excessive in comparison to the expected revenue benefits."
Mr Timmers said that provided the new calculator is sufficiently comprehensive, it should ensure that public servants appropriately consider the costs of proposed legislation and that those costs formally feed into the decision making process at a ministerial level.
"It is also appropriate that all Members of Parliament have access to robust data that estimates the cost impact of policy."
"Improvements in measuring compliance costs will hopefully result in better and more targeted tax rules."
"If the new calculator means that compliance is considered earlier in tax policy development, then that is a welcome initiative."
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Page Last Updated: 10 April 2006
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Source: Deloitte Touche Tohmatsu - Australia (English)
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