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New measures deterring the promotion of tax exploitation schemes.

Publication date: 01 Sep 06 | Source: AUSTRALIAN TAX REVIEW

Issue: Vol. 35 no. 3 2006

Pages: pp.163-184

The Tax Laws Amendment (2006 Measures No 1) Act 2006 introduced a new civil penalty regime into Div 290 of the Taxation Administration Act 1953. The regime applies to promoters of tax exploitation schemes. This article will demonstrate that, while the Explanatory Memorandum to this Act suggests that the new provisions will have a narrow application, the legislation may be applied more broadly. 

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Author profile

John King CTA
John is a Consultant at Prolegis Lawyers in Sydney. Prolegis is a 10 lawyer boutique firm that specialises in advising clients throughout Australia in relation to the charities and not-for-profits sector (including structuring, establishment, tax, regulatory, governance and other compliance, fundraising, grant making, employment law, mergers & other restructures, and disputes). Prior to joining Prolegis in 2011, John was a Tax Partner at Mallesons Stephen Jaques (now King&Wood Mallesons) in Sydney and New York for more than 31 years. - Current at 27 June 2016
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