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:

  • Testamentary trusts post-death: Bespoke planning opportunities Add to cart

    01 Aug 2015

    It is clear that there is a growing need for estate planning to utilise appropriate structuring. Wills using testamentary trusts should be the starting point for any comprehensive estate planning exercise. The difficulty in many such exercises is that serious attempts to devise and implement a plan are often not made until some triggering event, such as financial or matrimonial misfortune, life-threatening illness or death, stimulates action.

    This article considers options available for implementing trust structures after death when appropriate planning was not done during a person’s lifetime, and the post-death strategies which can be used to fix estate planning problems. In such a case, it is possible to establish a trust following a person’s death, including an estate proceeds trust or a superannuation proceeds trust. The article discusses the benefits and limitations of these strategies in turn, and also includes a summary of child maintenance trusts.

  • Tax transparency in Australia: cutting through the BEPS noise Add to cart

    01 Aug 2015

    Given the importance of the OECD’s current Action plan on base erosion and profit shifting (BEPS), it is timely for Australian businesses and their advisers to consider what their own action plan should be. Australia has taken a leading role in legislating against base erosion, profit shifting and multinational tax avoidance. Common themes in reacting to such measures are that systems, processes and policies need to be reviewed in light of the changing tax transparency world, and reputational risk must be part of any tax risk management discussion.

    International related party dealings involving Australia are likely to be the subject of ATO and public scrutiny, and senior management and boards of Australian operations must prepare for this increased scrutiny. This article considers various BEPS-related issues, including new global tax disclosure rules, master and local files, and country-by-country reporting. The article concludes with a brief discussion on the management of reputational risk.

  • Accounting for tax: To deal or not to deal at arm’s length Add to cart

    01 Aug 2015

    The market value substitution rule modifies the general capital proceeds rules. The rule that applies if there is consideration that differs from market value requires a hypothetical assessment of parties dealing at arm’s length with each other. How hard can it be?

  • Property investment through discretionary trusts Add to cart

    01 Aug 2015

    The use of discretionary trusts as property investment and commercial vehicles has been well established in Australia for some time. This article considers a number of issues surrounding discretionary trusts that may be of interest to someone who has to decide what investment vehicle to use, and also to someone who has already chosen such a vehicle. The article provides a historical background and an overview of the taxation of trusts, and goes on to discuss issues including whether to notify a trust in the land title register, ASIC returns, custodian trustees, settlement sums, beneficiaries, the principal or appointor and the principal’s fiduciary duty, vesting and the rule against perpetuities, choice of law, the trustee’s lien, family law issues, and asset protection issues.