SMSF Association Submission – Response to PwC – tax regulator information gathering powers review: Consultation Paper

The SMSF Association welcomes the opportunity to provide this submission in response to the consultation paper on the reform of tax regulator information gathering powers. Regulators need to have the appropriate powers and information to allow them to meet the objectives of their respective remits. However, the extent of those powers should not extend beyond that remit.

We are concerned at the number of measures being introduced as a “response to PwC.” While the PwC matter has highlighted several concerns, the policy response must be balanced and ensure that it does not result in regulatory overreach.