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Out with the old (section 260) and in with the new (Part IVA)

Saveen Mathews August 1, 2024

Part IVA overcomes deficiencies of section 260 of the Income Tax Assessment Act (ITAA), exposed by judicial decisions. Part IVA was introduced, albeit with limitations on scope, to provide an appropriate balance between combatting tax avoidance without discouraging commercial and familial transactions.

PQBZ v Commissioner of Taxation – a rare (partial) win for the taxpayer in the Tribunal

Saveen Mathews February 23, 2024

In PQBZ v Commissioner of Taxation, the Applicant failed to prove he was not a tax resident of Australia but was, however, able to prove the amended assessments made by the Commissioner were excessive by approximately $3.66 million.

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incometax

Out with the old (section 260) and in with the new (Part IVA)

PQBZ v Commissioner of Taxation – a rare (partial) win for the taxpayer in the Tribunal

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