Black Economy – Increasing the Integrity of Government Procurement

Consultation on Draft Procurement Connected Policy Guidelines

Closes on Friday 21 December 2018

Following the 2018-19 Budget announcement to increase the integrity of the Commonwealth procurement process, the Government is seeking comments from interested parties on the draft procurement connected policy (PCP) that was informed by an initial consultation process from 15 May to 15 June 2018.

The draft PCP will, once finalised, implement a recommendation of the Black Economy Taskforce to require businesses seeking to tender for Australian Government procurement contracts over $4 million (inclusive of GST) to provide a statement of tax record from the Australian Taxation Office that indicates that they are generally compliant with their tax obligations. The PCP sets out the key components that are aimed at improving the integrity of the procurement process and provides guidance to assist all relevant Commonwealth entities in implementing the policy.

The Regulation Impact Statement requirements have been satisfied by the independent review carried out by the Black Economy Taskforce.

Stakeholders are encouraged to provide their views on the proposed system.

 

Improving Black Economy Enforcement and Offences

Closes on Friday 21 December 2018

In the 2018-19 Budget, the Government announced that it will conduct a review of existing criminal offences, and civil and administrative penalties for black economy activity.  As part of this process, the Government is consulting stakeholders on how it could implement the Black Economy Taskforce recommendation to introduce a modern offences regime to tackle the black economy (Final Report).

This consultation discusses how a targeted, stronger and more visible approach to enforcement can be implemented to target black economy activities. Views are sought on a number of proposed amendments to black economy offences, penalties and streamlining prosecution processes.

 

Treasury Laws Amendment (Mutual Entities) Bill 2018: Tranche 2

Closes on Monday 24 December 2018

On 8 November 2017 the Government committed to implementing the recommendations of the inquiry into Reforms for Cooperatives, Mutuals and Member-owned Firms, conducted by Greg Hammond OAM.

The Government today has released for public consultation an exposure draft of the Treasury Laws Amendment (Mutual Entities) Bill 2018: Tranche 2 and explanatory materials.

The Bill introduces a new bespoke capital instrument in the Corporations Act 2001 for all eligible mutual entities.

(Source: Australian Treasury)

 

From the blog:

Budget Forum 2018: Targeting the Black Economy, by Joel Emery

Budget Forum 2017: ‘Black Economy’ a Timely New Focus for Tax Integrity Measures, by Joel Emery

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