Getting (Even More) Serious about Schemes To Avoid Tax by Strengthening the General Anti-Avoidance Provision

In this article, the author provides a detailed analysis of amendments to Australia’s general anti-avoidance rule, Part IVA of the Income Tax Assessment Act (1936). The amendments threaten to overturn more than 20 years of court interpretation and have serious implications for any tax planning and tax structuring that touches Australian jurisdiction.