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Workshop 1 case studies and answers: Part IVA

Published on 25 Oct 12 by NATIONAL DIVISION, THE TAX INSTITUTE

Notwithstanding there have been a number of recent cases dealing with Part IVA, its scope of operation and application remain uncertain. Arguably, a major contributor to this uncertainty is the federal government’s announcement that “it would act to protect the integrity of Australia’s tax system by introducing amendments to Part IVA of the income tax law”. A further announcement clarified the position stating “the Government does not propose to change the core operation of the ‘purpose’ test in Part IVA, which was designed to be the key determinant of whether the general anti-avoidance rule applies to a scheme”. The proposed amendments took effect from 1 March 2012. The uncertainty can have a serious impact for advisers in advising on and implementing transactions and restructures that involve a detailed analysis of the tax outcomes and ultimately result in “tax benefits”.

This workshop involves a number of case studies that will:

  • question whether Part IVA needs changing and analyse the impact of the amendments to the extent they have been released
  • consider the potential application of Part IVA to what could be characterised as “plain vanilla” transactions
  • explore the benefits of taxpayers contemporaneously addressing.

Author profile:

David MARSCHKE

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This was presented at 2012 Tax Specialists' Workshop .

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Individual sessions

Workshop 1 case studies and answers: Part IVA

Author(s):  David MARSCHKE

Materials from this session:

Workshop 4 case studies and answers: International

Author(s):  Tracey RENS,  Narelle MCBRIDE,  Alison RODI

Materials from this session:

Workshop 3 case studies and answers: M&A

Author(s):  Eddy MOUSSA

Materials from this session:

Workshop 2 case studies and answers: Managing tax disputes

Author(s):  Joanne DUNNE,  Michael CLOUGH,  Chris KINSELLA,  Peter COAKLEY

Materials from this session:

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