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Interest deductibility Hart & Part IVA presentation

Published on 08 Jul 04 by NEW SOUTH WALES DIVISION, THE TAX INSTITUTE

The ATO's anti-avoidance powers in Part IVA always cast a shadow over any tax planning done for your clients or your business. In recent years there has been more and more activity by the ATO that relies on these anti-avoidance powers.

When the Commissioner can and can't use these powers to strike out a tax benefit is something any tax adviser needs to understand. Last month, the High Court handed down its hotly anticipated judgement in the Hart case. In a shock to many, the High Court decided to strike down a split loan that was cleared by the Federal Court. Why the change? And what does it mean for tax planning?

Author profile:

Patrick C GALLAGHER
Patrick is a Taxation and Business Consultant and a Visiting Fellow at Macquarie University. He was previously Associate Professor in the School of Law at the University of Western Sydney. Before moving to UWS Patrick was with UNSW where he was one of the two people who conceived and created the Australian Taxation Studies program. At ATAX and since, Patrick has been active as a consultant on a number of practical taxation and governance projects involving industry and/or government both in Australia and overseas - in particular, China. He also possesses undergraduate degrees in accounting and law and Masters degrees in Law and Commerce. He is a Fellow of the Tax Institute and an active member of the NSW Education Committee.
Current at 26 June 2006
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Interest deductibility Hart and Part IVA

Author(s):  Patrick C GALLAGHER

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