Tony PAGONE QC
Significant dvelopments have recently occured in this area of tax law. The application for special leave to appeal to the High Court in Steele's case was granted and a test case in respect of split and linked loan facilities is awaited. Tony Pagone QC will restate the law in relation to the deductability of interest and provide valuable insights into future trends.
Division 7A of the ITAA36 introduces a new regime for the treatment of advances , loans, and other credits by private companies to shareholders and thier associates. The forgiveness of debts owed by shareholders is also specifically dealt with. Mike James covers in detail of the new provisions and their effect in practice.
Family breakdowns are reported to be occuring at an increasing rate in Australia. The atxation implications of the marriage breakdowns, and arrangements for protection in the event of their occurrence, are matters of increasing interest. Topics covered include: superannuation; estate planning; child maintenance trusts.
A "family trust" is an excepted trust for the purposes of the trust loss measures. How far will the "family trust" concept extend in future legislation? Topics covered include: trust loss provisions; dividend streaming; distributions; distributions to super funds.
Measures to simplify and reform the Corporations Law have necessitated consequential amendments to the income tax legislation. Topics covered include: corporate law reform and consequential income tax amendments.