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:

  • Tax tips: Unit trusts: NSW land tax Add to cart

    01 Apr 2015

    Where a unit or other non-discretionary trust owns land in New South Wales, the tax-free land tax threshold will only be available if the trust satisfies stringent requirements and, therefore, is a fixed trust.

  • Limiting abuse of administrative power and enhancing economic welfare Add to cart

    01 Apr 2015

    Regardless of whether a taxpayer has provided sufficient information to determine the tax consequences or purpose of a particular transaction, it appears that the A TO regularly (and not always appropriately) asserts Pt IVA to seek access to otherwise confidential tax advices prepared by accountants.

    This article reiterates a previous suggestion, in response to the discussion paper on privilege in relation to tax advice, to entrench the current administrative arrangement known as the accountants’ concession. Increasing judicial scrutiny of the Commissioner’s decision to lift the exemption from disclosure in respect to tax advice prepared by accountants better promotes confidence and consistency in the exercise of access powers and facilitates more full and frank disclosure by taxpayers.

  • Enforcement of tax liabilities and solvency Add to cart

    01 Apr 2015

    The Commissioner of Taxation has broad powers of recovery of taxation liabilities, quite apart from the assessment, review and appeal process. Enforcement action by the Commissioner often presents issues of solvency of the taxpayer. In cases where the taxpayer wishes to dispute the tax assessed, a basic concern is to ensure that the opportunity to do so is not lost because of enforcement action. A taxpayer has options available to maintain a challenge to an underlying tax assessment, but careful consideration should be given to the approach taken, particularly as timing constraints are involved. Four topics within the overall framework of recovery that commonly give rise to questions of solvency are windings-up, stays, deferrals of time for payment, and garnishee notices.

    This article explains the legal framework for each topic and discusses some practical issues that need to be managed in order to maximise the taxpayer’s chances of being able to argue the substantive tax dispute.

  • Australian TOFA implications for insurers from the NZ Sovereign Assurance case Add to cart

    01 Apr 2015

    Decisions of the New Zealand courts in the Sovereign Assurance case considered the application of New Zealand’s taxation of financial arrangements (TOFA) rules to reinsurance treaties entered into by a New Zealand insurer. The New Zealand rules parallel Australia’s TOFA regime in Div 230 of the Income Tax Assessment Act 1997, and New Zealand cases therefore have relevance in Australia.

    This article first outlines New Zealand’s financial arrangements rules, and the facts and main holdings in Sovereign Assurance. The authors then compare New Zealand’s financial arrangements rules to the Australian TOFA rules and consider whether the result could have been different if it had been decided in Australia. The authors conclude that the case shows that even very longstanding arrangements which are commonly used by industry, such as reinsurance treaties, can lead to results under TOFA which may be unanticipated.