Author(s): Ross SELLER In the 1997 Budget the Government announced changes that would be made to the treatment of franked dividends and to the dealing in shares generally.These changes fall into three broad categories. The new rules generally will apply to dividends paid on or after 13 May 1997. The holding period rule applies to shares and interest in shares which were acquired from 1 July 1997 unless the shareholder was contractually bound before 13 May 1997. The related payments rule generally applies to arrangements entered into after 13 May 1997. There are special rules that apply to beneficiaries of trusts. It is these latter rules that probably provide the most difficult concepts in this new area. The author expands and provides an overview of these changes.
Author(s): Bruce JONES The author shares some thoughts on the more immediate future for the ATO and explains the preparation being made, some of the models that are being used and the framework that brings it together.
Author(s): Robert Allerdice Topics include: interest deductibility post Steele v FCT; the Commissioner's access powers and legal professional privelege post May v FCT, Deloitte Touche Tohmatsu v FCT and FCT v Coombes; relying on the rulings system post Bellinz Pty Ltd v FCT.