Federal Treasurer Wayne Swan has announced the reappointment of John Emerson AM to the Board of Taxation (Board). Mr Emerson was appointed for a second term from 21 July 2009 to 30 June 2011.
The Board of Taxation is a non-statutory body established to advise the Federal Government on the development and implementation of taxation legislation and the ongoing operation of the tax system.1 The Board comprises of 10 members, seven of whom, including the Chairman, Richard Warburton AO, are appointed from the non-government sector. The Secretary to the Treasury, the Commissioner of Taxation and the First Parliamentary Counsel are ex officio members.
‘I see the Board as performing an important function in the public interest and I consider it a privilege to be able to continue as a member. The Board seeks to provide advice that reduces complexity and compliance costs, and increases certainty within a tax system that operates with equity and integrity. We conduct reviews on various issues referred by the government. We have public consultations with industry groups, professional bodies, corporates and other stakeholders. The Australian Tax Office and Treasury are also consulted in reviews.’
Mr Emerson is recognised Australia wide as an expert in the tax laws applicable to charities. Charity law is the cornerstone of his practice. In addition to the Board of Taxation, Mr Emerson sits on a number of legal and public sector committees active in the charity tax and pro bono areas.
Upcoming Board of Taxation activities
Important reviews are on the horizon for the Board. ‘Currently I am chairing the Working Group of the Board conducting a review of the tax arrangements applying to managed investment trusts,’ said Mr Emerson. ‘The Board is also conducting post implementation reviews into tax laws regarding the alienation of personal services income and some aspects of the consolidation regime. On 24 July, the Assistant Treasurer announced that the Board has been asked to conduct a review into some issues associated with employee share schemes.
Alongside Mr Emerson, Chris Jordan AO, Chairman of KPMG has been reappointed as the Deputy Chairman. A new appointment is Annabelle Chaplain from the Queensland Bulk Water Supply Authority.
Endnotes
- Federal Government’s press release
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