Islamic finance meets Australian taxation
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Abstract: A greater understanding of the increasing influence of the Islamic business sector is required by Australian practitioners. This paper explores primary factors that distinguish Islamic from conventional finance including: how Australian income tax law impacts on typical Islamic transactions like debt/equity issues, home finance and private investment; the inherent differences between Muslim-owned and Australian-owned businesses; and access to business concessions to create fairness.
Author
profile:
Ash
CHOTAI
Ash is a Partner at Chotais Chartered Accountants, and has in excess of 15 years experience in the provision of tax and business advice to small and
medium enterprises and high net worth persons. His areas of interest include CGT, GST and business and asset structuring. Ash is the State Chair of the Taxation Institute of Australia Queensland Division and he currently represents
Queensland on the Structured Education Advisory Board.
Current at June 2008
