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Islamic finance meets Australian taxation

Published on 01 Jun 08 by "THE TAX SPECIALIST" JOURNAL ARTICLE

A greater understanding of the increasing influence of the Islamic business sector is required by Australian practitioners. This paper explores primary factors that distinguish Islamic from conventional finance including: how Australian income tax law impacts on typical Islamic transactions like debt/equity issues, home finance and private investment; the inherent differences between Muslim-owned and Australian-owned businesses; and access to business concessions to create fairness.

Author profile

Ashutosh Chotai CTA
Ash is a Director with Chotais Chartered Accountants in Brisbane, and has in excess of 20 years experience in the provision of tax and business advice to small and medium enterprises and high net wealth persons. His areas of interest include CGT, GST and business and asset structuring. Ash is a Queensland State Councillor and former State Chair of The Tax Institute, and is a regular presenter for The Tax Institute and other professional bodies. - Current at 22 June 2017
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