CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Australia Consults On Anti-Avoidance Reforms

Australia Consults On Anti-Avoidance Reforms

by Mary Swire, Tax-News.com, Hong Kong

19 November 2012


The Australian government is consulting on reforms to its anti-avoidance rules designed to protect the tax system's integrity.

The changes are included in exposure draft legislation and explanatory material issued by Assistant Treasurer David Bradbury.

The draft legislation amends Part IVA of the income tax laws and focuses on the definition of "tax benefit". The reforms will mean that Part IVA can apply to taxpayers who enter into arrangements with the sole or dominant purpose of avoiding tax.

There will be no change to the core operation of the "purpose" test in Part IVA.

The reforms will apply to arrangements entered into or commenced from November 16, the date of Bradbury's announcement. The government intends to introduce legislation into parliament in the autumn 2013 sittings.

The consultation is open until December 19.

TAGS: tax | tax avoidance | law | Australia | legislation

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »