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Published on 06 Aug 13
by QUEENSLAND DIVISION, THE TAX INSTITUTE
The new (and "improved") Part IVA has grown out the ATO's desire to "push the boundaries" of tax litigation. It seems rare that Part IVA is not invoked where a transaction has a flavour other than "plain vanilla": have we moved from a smell test to a taste test, and what does it all mean for SME taxpayers in your client base (and what does your insurance say about Part IVA?).
This paper covers:
the "new and improved" Part IVA
the ATO's problems with Part IVA in the Courts
what the new version will mean for the future
handling the two key aspects of any Part IVA matter
dividend access shares, asset protection and business restructuring to access the small business CGT concessions: will Part IVA apply (and which one)?
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
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