ATO releases revised Code of Settlement

20/10/2014

The Australian Taxation Office has released its revised Code of Settlement, which it claims will result in "a better settlement experience" for clients, practitioners and ATO staff. The new plain English code, which was announced by Commissioner Chris Jordan at the CPA Congress in Melbourne, is just two pages long and provides a clear commitment to early resolution of disputes and sensible use of settlements.

A new Practical Guide supports the code revision with clear and purposeful examples.

The old settlements practice statement 2007/5 Settlements will be withdrawn. Model Settlement deeds can be obtained here.