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Star City Pty Ltd & Pt IVA : revisiting "muffled echoes" from the past!

Publication date: 18 Jan 08 | Source: WEEKLY TAX BULLETIN

Issue: No 3 2008

Pages: pp.35-38

Part IVA of the ITAA 1936 was introduced to replace s260 of the Act. The purpose of the change was ostensibly to better combat tax-avoidance in Australia. Section 260 and its application proved to be complicated and excessively broad, to the point where by the early 1980s, it was essentially struck down following the decision in Newton's case (1958) 98 CLR 2. This case represented the beginning of the end for s260, because it allowed a transaction that was part of an ordinary business or family dealing, to escape the threshold requirements of s260.

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Author profile

Arthur Athanasiou CTA-Life
Photo of author, Arthur ATHANASIOU Arthur Athanasiou CTA (Life) practises mainly in the area of taxation advisory, with an emphasis on dispute resolution, particularly in the SME sector, with both the ATO and the SRO. Arthur has many years experience in complex tax litigation and tax audit negotiations and settlements. He also has broad experience in the taxation of trusts and SME entities, with an emphasis on Div 7A and high wealth individuals and family groups. Arthur has qualified as a Chartered Accountant and also held senior taxation and management positions in the transport and motor vehicle industries. Arthur is a former President of The Tax Institute, has chaired the Law Institute’s Tax Law Advisory Committee for a decade and now serves on the Industry Advisory Board of the IPA-Deakin University SME Research Centre. Arthur is an Accredited Tax Law Specialist and a widely published writer on taxation issues. He regularly appears in the mainstream media and presents at tax seminars and discussion groups. - Current at 21 September 2018
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