The Minister for Revenue and Financial Services, the Hon Kelly O'Dwyer MP, today released the 'Review of tax and corporate whistleblower protections in Australia' paper for consultation.
This consultation is the next step in implementing the Government's commitment to Australia's first Open Government National Action Plan and the announcement in the 2016-17 Budget that protections for tax whistleblowers be developed.
The Government is committed to the reform of whistleblower protections in the corporate and taxation areas. This consultation process will complement the Parliamentary inquiry into whistleblower protections in the corporate, public and not-for-profit sectors.
'Whistleblowing plays a critical role in uncovering corporate and tax misconduct. It is a key means of combating poor compliance cultures, by ensuring that companies, officers and staff know that misconduct will be reported. Active protection of whistleblowers to encourage them to make disclosures is essential and the Government is determined to ensure it has the right legislative settings in place to achieve this, while at the same time ensuring disclosures can be fully investigated and that procedural fairness is provided to those who may be the subject of a disclosure' said Minister O'Dwyer.
The consultation paper is available at the Treasury website. Stakeholders are invited to comment on the consultation paper by lodging a submission online. Submissions for this consultation will close on 10 February 2017.