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Designed for the specialist tax professional, The Tax Specialist journal is essential reading for corporate tax advisers, accountants, lawyers and academics. Featuring in-depth analysis, opinion and argument on legislative, administrative and judicial issues it is published five times per year and is available by subscription. Also known as the Red Journal.

The Tax Specialist covers the latest issues affecting your role and your business, including:

  • consolidations
  • mergers and acquisitions
  • international tax
  • GST securitisation
  • venture capital
  • legal professional privilege
  • Part IVA
  • TOFA, and more.

Australia’s leading journal for corporate tax professionals, is now also available on iPad and Android.

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Articles from the current issue:

  • Tax consolidation update: Still grappling with these rules?

    shopping_cart Add to cart 01 Jun 2016

    Reform of the tax consolidation regime has stagnated over the last few years. A broad review was to be undertaken in 2015, but little was done apart from preliminary discussions and compilation of lists. The most recently announced changes of significance, relating to deductible liabilities, securitised assets and anti-churning where companies are transferred from non-residents, still await amending legislation after more than three years. The 2016-17 federal Budget added further refinements to those previously announced proposals.

    This article examines the current state of the announced changes, and what they should look like when eventually introduced. The article
    also looks back at the long list of outstanding announcements, identified issues and areas for improvement of the tax consolidation rules. The hope is expressed that an incoming government will re-prioritise the broad tax consolidation review, in line with clear policy objectives.

  • Departing Australia: A complex tax situation with possible benefits and hidden traps

    shopping_cart Add to cart 01 Jun 2016

    With the globalisation of the Australian economy, large numbers of Australians will depart Australia to take up opportunities to work and live overseas. As such, the tax consequences are becoming more significant, involving complex issues of fact, residence and double tax agreements (DTAs). A person’s departure may also impact the tax treatment of entities that they are involved in and, as a result, the taxation of other stakeholders in the relevant entity. The focus of this article is on income tax and it addresses the essential legal issues to consider when a person moves overseas; however, there will be brief consideration of foreign law.

    This article cuts through some of the complexity by placing some recent residence decisions in the context of longstanding authority and
    warns about the factual specificity of residence cases. Finally, it highlights the importance of DTAs and foreign law to practical tax outcomes.

  • Sharing the rides but are we sharing the profits?

    shopping_cart Add to cart 01 Jun 2016

    Ride-sharing services like Uber are posing major challenges to traditional taxation models. This is because business profits generated by Uber and similar companies are perceived to be “geographically divorced” from the provision of ride-sharing services themselves. To that extent, host countries that physically support the income-generating activities might lose out on the tax revenue because the “digital company” could be based in another country.

    This article considers the OECD’s BEPS project against companies like Uber to determine how and where profits are made, and how the concepts of source and residence are applied to characterise income for tax purposes in a consistent way. This article also seeks to establish: (1) the taxation models in Australia, France and the United States that are applied to capture taxable income; (2) how income tax is captured at a personal level earned from employment; and (3) the enforceability of regulations in different local governments.

  • Section 974-80 ITAA97: The current state of play

    shopping_cart Add to cart 01 Jun 2016

    Section 974-80, which is part of the debt and equity rules in Div 974 of the Income Tax Assessment Act 1997, is described as an integrity or anti-avoidance measure. Few sections of the Act have created as much consternation as this section. From a seemingly innocuous beginning, s 974-80 morphed from a tightly focused avoidance provision into one with the scope and strength to force the restructure of publicly listed groups.

    This article provides an overview of the history of s 974-80, including the latest proposal for amendment, describes how the section was used to attack and largely annihilate certain financing structures, and demonstrates the current complexities facing certain stapled groups by stepping through various arguments for and against the operation of s 974-80 to cross-staple loans. The article concludes by looking at the current landscape and the role that the section may continue to play in the foreseeable future.

  • The stamp duty consequences of farm-in arrangements in Western Australia

    shopping_cart Add to cart 01 Jun 2016

    Farm-in arrangements are commonly used to facilitate the exploration and development of mining projects in Western Australia. The Duties Act 2008 (WA) contains provisions which provide for the concessional treatment of these arrangements in specified circumstances. This article will examine the policy background to the farm-in concession, the transaction structures commonly adopted and the technical issues which may arise when seeking to apply the concession to different kinds of farm-in arrangements.

    The article highlights potential stamp duty pitfalls for tax advisers and their clients and identifies some areas in need of legislative reform. This article will demonstrate that, while the concept of a farm-in arrangement is relatively straightforward, the application of the Duties Act 2008 to these arrangements is not and care must be exercised when drafting farm-in agreements to ensure that they do not give rise to any unintended stamp duty consequences.

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