Tax avoidance arrangement confirmed

The Taxation Review Authority (TRA) has held that there was a tax avoidance arrangement involving a trust. The interest deductions claimed by each taxpayer were void against the Commissioner under s BG 1 of the Income Tax Act 2004. The background This case related to...
Trust law passes third reading

Trust law passes third reading

The Trusts Bill (290-3) that was introduced on 1st August 2017, has passed its third reading in Parliament. The Bill now awaits the Royal assent. The Trusts Bill will replace the Trustee Act 1956 and the Perpetuities Act 1964 to make trust law more accessible, clarify...
Trust law passes third reading

Budget Highlights 2019

With the focus firmly on wellbeing measures, Budget 2019 made no new tax announcements. The following tax measures were already revealed in the pre-Budget announcements: GST on telecommunications, and repeal of racing totaliser duty. GST on telecommunications The...