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The “new” Part IVA


Part IVA of the Income Tax Assessment Act 1936 (Cth), the pivotal general anti-avoidance provision in Australian income tax law, was amended in 2013, in particular to clarify the scope and meaning of the concept of tax benefit. This article examines the thirty-plus year history of Pt IVA in order to reach some conclusions about the position we have reached. The article first considers Pt IVA in a cultural and attitudinal setting, including the drive for an “open” anti-avoidance provision and shifting attitudes to tax planning.

The article surveys antiavoidance law and practice before the coming of Pt IVA, and then discusses phases in the history of Pt IVA to date. The rise of the “new” Pt IVA is discussed, including the new emphasis on dominant purpose. The article concludes with some key issues to consider when providing structuring advice.

Author profile:

Author Photo - Grant Wardell-Johnson CTA
Grant Wardell-Johnson CTA
Grant, CTA, is the Head of the Australian Tax Centre at KPMG. Grant has a background in providing tax advice relating to international and domestic tax structuring, international cross-border acquisitions and initial public offerings. Grant has been the lead Tax Partner on many high-profile projects in the Australian and international markets, including the Wesfarmers acquisition of Coles Limited, Macquarie Group consortia acquisitions of Boart Longyear Limited and Dyno Nobel Limited and their subsequent listing on the Australian Securities Exchange. Grant now leads the consultation on new law and response to base erosion and profit shifting (BEPS) and the OECD Action Plan. He is a member of the Treasury BEPS Advisory Group. Current at 17 March 2016 Click here to expand/collapse more articles by Grant WARDELL-JOHNSON.
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