The changing tides of Part IVA: Guardian and Minerva insights
Published Date: 29 Jul 2024
The general anti-avoidance rule within Part IVA of the Income Tax Assessment Act 1936 (Cth), along with its predecessor, the former s 260 of the same Act, have served to protect the integrity of the Assessment Acts by seeking to prevent the deliberate avoidance of tax. This article charts the historical development of the general anti-avoidance rule, encompassing both legal precedent and statutory developments. This exploration includes an analysis of two significant recent cases, FCT v Guardian AIT Pty Ltd ATF Australian Investment Trust [2023] FCAFC 3 and Minerva Financial Group Pty Ltd v FCT [2024] FCAFC 28, which are the first to interpret Part IVA following its amendment in 2013.
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- Published By: Sylvia Villios CTA, Simon Headland, Max Bruce
- Published On:29 Jul 2024
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