Published on 12 Apr 99
by QUEENSLAND DIVISION, THE TAX INSTITUTE
The most fundamental and important point about the new Division 7A is that it is not an anti-avoidance division. DIVISION 7A ITAA CONTAINS A BRAND NEW ASSESSING PROVISION. Because Division 7A will apply automatically the tax advisor's duty to his or her clients and the Profession are fundamentally altered. I will first discuss that aspect.I will then look briefly at section 108 before moving to a review of Division 7A. I will discuss the interaction between Division 7A and fringe benefits tax (FBT), which has also fundamentally changed from the old section 108.
Mark is a Barrister at Sir Harry Gibbs Chambers, Ground Floor, Wentworth Chambers. Mark is in his 12th year at the Bar, practising in Brisbane and
Sydney. He acts for and against State and Commonwealth revenue authorities, and has been involved in many recent Trust cases. Mark is a regular presenter for the Taxation Institute and is a member of a number of taxation committees including the Taxation Institute’s State Council
and Education Committee and has published a number of articles.
Current at 12 March 2008
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