Taxation in Australia

The Taxation in Australia Journal

Written by practitioners for practitioners Taxation in Australia® is continually ranked as Australia's leading tax journal. Access the latest issue of Taxation in Australia in print, on your iPad or Android tablet, or online with our new digital edition.

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With a readership exceeding 35,000, Taxation in Australia is published 11 times per year and available exclusively to members in hard copy and online format, and now as an app on the Apple iPad and on Android tablets. 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.

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Articles from the current issue:

  • 2014 cases show a continuing trend of high ATO success rate Add to cart

    01 Jul 2015

    This article provides an analysis of the success rate for cases against the Australian Taxation Office in 2014, and over the past four years. It shows the Commissioner to be an extremely successful litigant both in 2014 and, generally, with the trend line demonstrating excellent case selection and management by the ATO in 2013 and 2014 in particular, as well as significantly improved performance over the past four years. The authors comment that it will be of interest to see whether the ATO’s initiatives in dispute resolution lead to a drop off in the number of cases before the courts in 2015 and subsequent years.

    This article also provides a summary of some of the important tax judgments from the Federal Court, the Full Court of the Federal Court and the High Court from January 2014 to the start of December 2014.

  • Tax tips: Division 7A issues Add to cart

    01 Jul 2015

    There have recently been several Div 7A developments: The release of a review of the Division by the Board of Taxation, and the release by the Commissioner of several draft rulings.

  • Is it a “scheme”? Add to cart

    01 Jul 2015

    Section 177EA, which is within Pt IVA (the general anti-avoidance provision) of the Income Tax Assessment Act 1936, enables the Commissioner of Taxation to make a determination denying imputation benefits to taxpayers resulting from franked distributions. The section centres around the existence of a “scheme for a disposition of membership interests, or an interest in membership interests, in a corporate tax entity”. Recently, the Commissioner has shown, through various ATO announcements, a tendency to use the section to attack various aspects of the dividend imputation system.

    This article argues that the Commissioner’s interpretation of s 177EA is too broad, and might catch arrangements and transactions which the section was not designed to cover. The article analyses the intended operation of section 177EA and its historical context. The authors then pose a basic scenario, and ask the reader to consider whether it would be regarded as falling within s 177EA.

  • Common errors in applying the market value concept Add to cart

    01 Jul 2015

    Despite the widely accepted definition of market value based on the High Court decision in Spencer v The Commonwealth, the application of the market value concept in practice has been subject to errors and dispute, with flow on tax and duty consequences. There are broadly two interrelated types of errors associated with the application of the market value concept: conceptual errors and measurement errors. This article examines some of the most common conceptual errors. These include failure to recognise the asset focus of the Spencer market value concept, failure to recognise the negotiated price focus of the Spencer market value concept, adoption of an incorrect unit of measurement, and adoption of an incorrect view of the impact of non-transferability on market value. The authors argue that recognition and avoidance of the errors discussed in this article are important in achieving a correct valuation outcome for tax and duty purposes.