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:

  • Declaratory relief in revenue matters Add to cart

    01 Mar 2015

    Courts have long had power to make binding declarations on questions of law put before them by interested parties, provided applicants are not merely seeking advisory opinions based on purely hypothetical assumptions. This article examines the ability of courts to make declarations relating to discrete questions of law arising in revenue proceedings. The article considers, in particular, the utility of declaratory relief, limitations imposed by the conclusive evidence provisions of taxation laws, the availability of alternative remedies, the use of declaratory relief in GST cases, declarations in relation to future matters and on preliminary questions of law, the practice of the Commissioner of Taxation in seeking declarations, and jurisdiction to grant declaratory relief in anti-avoidance matters. The author concludes that the emerging use of declaratory relief in tax litigation is one of the most important and potentially innovative and effective developments in this area of the law.

  • Powers to amend trusts are no longer available from courts Add to cart

    01 Mar 2015

    To what extent can a trustee obtain from the court a power to amend the terms of the trust in the future? The practical effect of the recent decision of the Court of Appeal of New South Wales in Re Dion Investments Pty Ltd is that a trustee without power to amend the terms of the trust cannot obtain that power from the court. The omission of a power to amend in a trust’s terms will therefore be a permanent omission, at least in New South Wales. The trustee can, however, seek specific powers by way of supplementation or overriding of the existing trust terms, even for the purposes of obtaining tax advantages, if s 81 of the Trustee Act 1925 (NSW) is otherwise satisfied. The decision is significant as it confirms the lack of foundation of many earlier decisions that enabled a trustee to further amend a trust’s terms.

  • Insurance-funded business succession Add to cart

    01 Mar 2015

    Succession planning is a critical issue for any jointly owned business, and the unexpected exit of a principal can have adverse ramifications for the business. Appropriate structured insurance funding can be an important step in mitigating these risks. Changes were recently made to the type of total and permanent disablement insurance policies which can be owned through superannuation. Total and permanent disablement policies commonly feature in insurance-funded buy–sell agreements. The purpose of this article is to review the various ways in which these agreements can be structured.

    The article considers how most insurance-funded buy–sell agreements operate, the alternatives available when determining how the insurance policies should be owned, and the taxation consequences of the different ownership approaches.