Following the inaugural meeting of the Government's Policy Transition Group in Canberra last week the Group's Co-Chairs have today written to key stakeholders outlining its scope of work, planned operations and schedule of consultations.
Consistent with the Government’s announcement of 2 July 2010, the Policy Transition Group will consult directly with affected companies and their representatives, relevant Australian Government agencies and state and territory governments.
Consultation sessions have been scheduled in Perth, Brisbane, Adelaide, Sydney and Melbourne with further sessions to be held as required. The consultation sessions will focus on particular resources or sectors to maximise the benefits of the engagement.
A further round of targeted consultation activity will be conducted prior to providing a final report to Government by the end of the year.
An issues paper will shortly be released to further assist in the development of recommendations for the Government on the implementation of resource taxation reforms and stakeholders will be invited to make formal submissions to the Group.
The Policy Transition Group will also be providing guiding material, including a template financial model, which will allow affected companies to model aspects of the tax.
Details on the consultation timeline and process will be available at www.futuretax.gov.au. Interested stakeholders should contact the Policy Transition Group Secretariat at PTG@ret.gov.au for further information on the consultation process and to nominate for a consultation session.
A copy of the letter to stakeholders, including details of the consultation schedule, is also available.