Bye-Bye millionaires' super scheme

Article Abstract:

Multi-millionaires are unnerved by the outcome of a recent Federal Court dispute between the commissioner of taxation and the private company of two wealthy Sydney property developers, over the involvement in an aggressive offshore tax scheme known as New Zealand superannuation. The court's findings confirm the commissioner's power to recover hundreds of millions of dollars in unpaid taxes, interest and penalties from other millionaires who participated in the scheme.

Taxes, Taxation, Millionaires, Commissioners

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Succession plan

Article Abstract:

Three important points on how small super funds and benefactors should organize their affairs are listed. A messy court dispute, between Daniel Katz and Linda Grossman over control of a $1-million-plus superannuation fund established by their late father is mentioned.

Succession planning (Business), Katz, Daniel, Grossman, Linda

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Houses of ill repute

Article Abstract:

Three different cases involved in intentional tax avoidance or evasion are presented. It is reported that the cases are typical of the matters being pursued by federal and state revenue authorities.

Australia. Australian Taxation Office, Personal property taxes

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