Part IVA general anti-avoidance rule changes (update on submission)

This week The Tax Institute finalised its submission on the Government's draft changes to the Part IVA general anti-avoidance law.
We support the maintenance of integrity rules within the tax system to ensure that tax is levied fairly, consistently and according to the policy intention of the relevant tax laws. Widespread faith in the integrity of our tax laws is essential to securing taxpayer trust and voluntary compliance.
Part IVA plays a particularly significant role in safeguarding the integrity of the tax system, ensuring compliance with the intention, not just the letter of the tax law. As such, Part IVA should only be applicable in circumstances where the relevant taxpayer has acted in a blatant, artificial or contrived manner in order to pay less tax than would have been the case had tax been appropriately levied on the substance (rather than the form) of the transaction.
The Government's proposed amendments are unnecessarily extensive, place undue and inappropriate r…
We support the maintenance of integrity rules within the tax system to ensure that tax is levied fairly, consistently and according to the policy intention of the relevant tax laws. Widespread faith in the integrity of our tax laws is essential to securing taxpayer trust and voluntary compliance.
Part IVA plays a particularly significant role in safeguarding the integrity of the tax system, ensuring compliance with the intention, not just the letter of the tax law. As such, Part IVA should only be applicable in circumstances where the relevant taxpayer has acted in a blatant, artificial or contrived manner in order to pay less tax than would have been the case had tax been appropriately levied on the substance (rather than the form) of the transaction.
The Government's proposed amendments are unnecessarily extensive, place undue and inappropriate r…