Abstracts » Business, general

Super tax diehards face a battle

Article Abstract:

Some controlling-shareholder superannuation plan investors are ignoring tax commissioner Michael Carmody's warnings to abandon the plans and are claiming that the schemes are within the law. Tax specialists believe a flaw in Section 274 of the Income Tax Investment Act means that superannuation contributions are exempt from the standard 15% tax and the 15% surcharge on middle and higher-income earners. While most superannuation investors have accepted an offer to settle, Carmody expects to fight long court battles with those who have not.

Public Finance Activities, Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Tax Deductions & Exemptions, Pension & Benefit Regulation, Statistical Data Included, Pensions, Pension funds, Tax deductions, Investors, Carmody, Michael

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Shareholders face a maze of capital-gains confusion

Article Abstract:

Australian investors who hold shares purchased prior to the introduction of capital gains tax in the mid-1980s are uncertain about how their capital gains will be taxed if a scrip-for-scrip company merger takes place. The Taxation Office indicates that these investors could face varying treatments of any capital gains on newly acquired shares.

Laws, regulations and rules, Capital gains tax

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Blackguards of the boom

Article Abstract:

The rise in the residential property prices has created a parallel rise in tax avoidance and criminal tax evasion. A guide to the eight main areas of tax avoidance and evasion during residential property boom is described.

Legal issues & crime, Taxes, Legal/Government Regulation, Company legal issue, Cases, Cover Story, Tax evasion, Residential real estate

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