Taxing times

Article Abstract:

Issues are presented concerning the tax consequences of the timing of asset disposal and the forgiveness of debt. Several court cases which involved the disposal of assets are discussed.

Corporate Taxes, Management, Assets (Accounting)

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Taxing times

Article Abstract:

Issues concerning the legal implications of Australia taxation governing the financial costs of income-splitting and investment portfolio management is discussed.

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Notices under section 264A - penalties and defences

Article Abstract:

The Australian Tax Office may issue notices to taxpayers concerning offshore questions under Section 264A of the Australian tax legislation, and a variety of penalties and defenses are provided for under the section. Taxpayers, however, in Australia can request and seek access to tax records in order to review and understand the tax issue at hand. Some tax documents are exempt from request, but tax audits, preparation of an objection, and court matters are some of the reasons taxpayers may need to request items.

Australia, Tax Law, Public Finance Activities, Standards, Interpretation and construction, Column, Tax accounting

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