Personal Services Income - Carlos Sorentino & Don Larkin
Dear John (Elliot),
Yesterday we sent members of Parliament the release I am copying below. Regards
10 July 2001
The Shadow of the Tax Commissioner Prevails
Peter Costello's statements yesterday and Cabinets decision on the Alienation of Personal Services Tax legislation do nothing to alleviate the situation. If there is no loss in revenue and no tax bill will be altered as a result of yesterdays supposed concessions, and any liability already assessed would still have to be paid, then nothing has changed. In fact, the situation has become more complex as the legislation is complex and unclear, depends on ATO rulings and if a contractor self assesses incorrectly, the tax man is still hovering.
The form is complex because the act is unclear and leaves too much open to interpretation. Every contractor and consultant contracts for results or they wouldn't be in business.
The Australasian Institute of Mining and Metallurgy and the Minerals Industry Consultants Association will urge our 8,000 members throughout Australia many in regional areas to lobby for the deferment of the act for a year to allow proper consultation and to ensure the definitions are clear for genuine contractors.
Don Larkin - CEO The AusIMM
Carlos Sorentino - Chairman Minerals Industry Consultants Association
Background to the PSI Debate by Mike Lawrence