Assistant treasurer David Bradbury, after weeks of intense lobbying by the financial services industry, has proposed an amendment to have the TASA-relevant sections of the Bill excised and forwarded to the parliamentary joint committee on financial services and corporations.
Earlier, shadow treasurer Joe Hockey made a passionate speech to the federal parliament, arguing that the TASA amendments have attempted to be rushed through the House without sufficient industry or committee consultation.
“The Coalition is deeply unhappy with the government’s chaotic handling of this Bill,” he said. “There has been no community consultation, no committee consultation.
“They wonder why their government is so chaotic – this is the largest taxation Bill on record – and the government introduces it and refuses to hold any consultation and tries to rush it through on the eve on an election without consulting those that are affected most.”
Describing the Bill as “ridiculous” and a “joke”, Hockey said that placing a regulatory burden on the financial services industry – which he said was a highly important sector in the economy – without sufficient consultation and “giving them four weeks’ notice” reflects poor economic management by the government.
Shadow financial services minister Mathias Cormann tweeted that the government has “comprehensively backed down from his push to ram ill-thought out changes to the Tax Agent Services Act through parliament”.
“A win for common sense,” said the FPA’s Dante De Gori.
Another example of a dodgy government at work. The legislaters, dont do as I do do as I say government. Nothing against the labor government its just they have been in power 2 terms to long. In that short but painfull time they have managed (mismanaged)to blow a huge surplus and financially ruin the economic back bone of this country which will take a long time to recover from. You wouldn’t employ them so beats me why people voted for them.
It all started with Kevin Rudd and his handling of the stimulus packages post GFC, and very bad leader with no economic skills and it continues with the party and their knowledge of economic impact what they try to make a decision. Fancy trying to go behind one of the biggest industries in the countries back, another smoking gun.
back down ? or caught out ?
All a bit embarrassing for the accounting bods. Perhaps they will take a more dignified stance in the future and avoid being so comprehensively marginalised like this again.
If this get through then I hope that all of our members of Federal Government know how to do thier own tax returns, remembering that for some only those who are licenced by the ATO are able to do them by LAW. To me all we are seeing at the moment is the Gillard Government making laws to suit themselves and not carring about those who have to work within that law.
Amen! Great comment by Dante.
Another nail in the Gillards Coffin, Bring on the election, the liberal party might win by more than 37 seats.