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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 25 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 business and asset structuring, asset protection and estate planning. Ash is a former Queensland State Chairman and State Councillor of The Tax Institute, and a former member of the National Education Committee, and is a regular presenter for The Tax Institute and other professional bodies. - Current at 13 December 2018
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