The Tax Institute was quoted in Smart Company on Wednesday 23 November 2011: “Tax experts welcome trusts consultation paper but warn case law must be harmonised with legislation”. The article relates to Treasury’s release of a consultation paper on an overhaul of trust taxation laws. The Tax Institute says the announcement is a welcomed acknowledgement of the appropriate use of trusts for estate planning purposes, and that we are very pleased to see many of the issues practitioners have struggled with acknowledged in the paper. To view the article, click here.
The Australian Financial Review quoted The Tax Institute on Friday 25 November 2011: “Tax loss straightjacketed may be loosened" in regards to possible recommendations of the Business Tax Reform Working Group (established after the October Tax forum). The Tax Institute says small businesses are particularly prone to breaching the rules without realising and therefore forfeiting their losses.