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Income tax system of Australia: the case for a new general anti-avoidance rule.

Publication date: 01 Jul 05 | Source: AUSTRALIAN LAW JOURNAL

Issue: Vol 79 no 6 2005

Pages: pp.364-400

Abstract:

This article analyses the most recent decision of the High Court of Australia on Pt IVA of the Income tax Assessment Act 1936 (Cth), which contains the general anti-avoidance rule for the Australian income tax system (a decision involving a small financing transaction by a married couple), and one recent decision of the Federal Court of Australia which applies that decision of the High Court (a decision involving a very large financing transaction by a publicly-owned bank), as the vehicles to argue the case for the adoption of a new general anti-avoidance rule. This article also analyses what is argued to be a unique approach to judicial review of administrative decision making, as demonstrated by the jurisprudence on Pt IVA during the last decade, to make good the proposition that Pt IVA can only be made to work effectively by adopting such a unique approach to the review by the courts of the determinatioins made by the Commission of Taxation to cancel tax benefits of taxpayers which trigger the invocation of Pt IVA.

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Author profile

Christopher Bevan CTA
Chris is a Barrister Wentworth Chambers. - Current at 06 August 2018
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