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Part IVA and international transactions


There have been several important recent cases which have considered the application of Pt IVA (the general anti-avoidance provision of the Income Tax Assessment Act 1936 (Cth)) to international transactions. In this article, the author examines five such decisions, each of which had a broad international
dimension and ran into problems in the context of Pt IVA. The article then turns to the so-called "anticipated Myer litigation" which arose out of the float of the Myer Emporium, and examines the critical tax issues that will arise in any tax litigation that may ensue, and the possible relevance of Pt IVA.

The author then reviews the key messages emerging from the cases, and summarises the features that the Commissioner is likely to look for when considering the application of Pt IVA, having regard to, in particular, the Commissioner's own practice statement and relevant case law.

Author profile:

Robert (Bob) Deutsch is the KPMG Professor of Taxation in the Atax program, UNSW and a Director with KPMG, Chartered Accountants. He is also a former director of the Atax program. He has over 15 years legal and tax experience and, immediately prior to his appointment with Atax, Bob was a tax partner with Mallesons Stephen Jaques. Previously, he was a Senior Lecturer in Law at the University of Sydney.
Current at 30 October 2007 Current at 31 October 2007 Click here to expand/collapse more articles by Robert DEUTSCH.


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