Source: Taxation In Australia Journal Article
Published Date: 1 Jul 2017
The high profile case of Chevron has received a barrage of media attention in recent times. As one of the biggest tax cases in Australia, it also highlights the difficulty and uncertainty in applying the concept of retrospectivity " an often controversial and complex concept that continues to be raised in legal arguments and policy debates concerning taxation. Chevron unsuccessfully argued that the retrospective effect of Subdiv 815-A of the Income Tax Assessment Act 1997 (Cth) rendered it an arbitrary and incontestable tax which was beyond the legislative power of the Commonwealth. The Chevron case serves as a timely opportunity for practitioners to revisit the meaning of retrospectivity and to consider the way in which taxpayers and the ATO can make use of it.
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