Tax avoidance in Australia / G T Pagone, Jonathan Woodger.

Alexandria, N.S.W. : The Federation Press, 2023.

2nd edition

201595

Tax evasion -- Australia.

Tax payer compliance -- Australia.

Taxation -- Law and legislation -- Australia.

1. Tax avoidance

2. Statutory general anti-avoidance rule in Australia

3. Scheme

4. Tax benefit: section 177C

5. Purpose of tax avoidance

6. Dividend stripping

7. Schemes to limit an Australian tax presence

8. Diverted profits tax

9. Franking credits and dividend streaming

10. Cancelling tax benefits

11. Goods and services tax (GST)

12. Advising on tax avoidance

Income Tax Assessment Act 1936 (Part IVA).

The potential application of the general tax avoidance provisions is an indispensable aspect of general commercial and domestic life, professional practice and professional advice. Daily commercial transactions and normal family dealings frequently require consideration of whether the tax avoidance provisions may apply. This second edition of Tax Avoidance in Australia provides a practical explanation of the workings of the main general tax avoidance provisions in Australia for income tax (Part IVA) and GST (Division 165). The explanation is placed in the context of the perceived deficiencies with the previous provisions and the elusive nature of the distinction between impermissible tax avoidance and permissible tax planning. In that context the book explains each of the elements necessary for the application of the anti-avoidance provisions. The book also looks at the obligations on advisers and the potential liability they face when advising taxpayers on anti-tax avoidance law. The second edition covers all of the significant legal developments since the original book’s publication in 2010, including the major amendments of Part IVA made in 2013, the new multinational anti-avoidance and diverted profits tax provisions, and the latest leading court decisions on Part IVA and Division 165. Every legal and accounting professional advising on tax and commercial matters will find this book a rich and useful resource through which to navigate the complex provisions that make up the general anti-tax avoidance rules. - Publisher's website.

Includes bibliographical references and index.

9781760024635

356 pages ; cm