Taxation in Australia

Taxation in Australia

Written by practitioners for practitioners Taxation in Australia® is continually ranked as Australia's leading tax journal. With a readership exceeding 35,000, it is published 11 times per year and available exclusively to Institute Members in both hard copy and online format. This comprehensive publication features articles with a strong, practical approach to the latest tax issues and professional development. It is affectionately known as the Blue Journal.

Articles from the current issue:

  • CEO's Report: Estate & Business Succession Planning Publication Free to Download

    You may have seen information recently on our latest book and Online Learning Module – Estate & Business Succession Planning, a practical and strategic guide for accountants, financial planners and lawyers written by Bernie O’Sullivan. In this issue of Taxation in Australia we have included an extract from the book for the benefit of our Members.

  • Taxing IssuesAdd to cart

    The following points highlight important Federal Tax developments that have occurred during June 2008.

  • On the lookout for early Institute materialAdd to cart

    A Member from Victoria has contacted me to say that he is retiring from practice in the near future and is looking for a home for his preloved Company Law Cases 1971-1994 and Australian Tax Cases 1976-1997. If you are interested in acquiring either of these titles please let me know.

  • Flexibility is the key for the 2009-10 programAdd to cart

    One of the advantages we have as a relatively new education program is to take in feedback and respond quickly to the needs the profession expresses. After having worked in close consultation with the supporting firms we have produced the following key dates for the 2009-10 program.

  • Shams, reimbursement agreements ... and the return of economic equivalence?Add to cart

    The Raftland Trust “washed” $4 million of trust distributions through a loss trust whilst the benefit of nearly all sums distributed was retained. “Sham” characterisation was confirmed by the High Court for this otherwise legally enforceable transaction. The taxpayer’s financial and fiscal objectives had impermissibly differed. This article examines the reasoning of members of the Court and outlines some disturbing implications.

  • New CGT small business concession rulesAdd to cart

    It is widely appreciated by practitioners that the small business CGT concessions in Division 152 are generous. Upon closer examination of the concessions, both pitfalls and treasures can be seen. This article presents an overview of the provisions, and highlights both particular problems and opportunities that arise, and how to plan to maximise the access to the benefits offered by Division 152.

  • Estate & Business Succession PlanningAdd to cart

    Succession planning is far more than making a basic will. It extends to protecting assets during any period of incapacity, handling superannuation in a tax effective manner and ensuring succession of entitles such as family trusts. It may also involve tough decisions such as passing control of business and other assets to certain family members to the exclusion of others.

  • Victorian Budget 2008: New tax cutsAdd to cart

    In its May 2008 Budget, the Victorian Government trumpeted various savings to business and individuals in relation to several State taxes. This was received with great fanfare at the time. In relation to stamp duty and land tax, was the response justified?

  • A disconcerting decisionAdd to cart

    For the first time since the introduction of Div 152 ITAA97, specific judicial consideration has been given to the definition of “affiliate” in the small business CGT context. The result casts doubt on the question of when two persons are “acting in concert”, with potentially wide-reaching consequences for small business taxpayers. Jeffrey Chang, Special Counsel with Riordans Lawyers, examines the decision in Stephens v Commissioner of Taxation [2008] AATA 176.

  • When is a benefit from a trust not a fringe benefit? When it’s an “ownership” benefitAdd to cart

    When a corporate trustee of a trust provides a benefit to a director who is a beneficiary of the trust, it can sometimes be difficult to determine in what capacity that benefit is received. For example, where a corporate trustee of a trust owns and operates a business, the director of the corporate trustee works in the business, the director is a beneficiary of the trust and the director receives a benefit from the trust, does the director receive that benefit in their capacity as an employee, a director, a beneficiary or as an “owner”?