The new (and "improved") Part IVA has grown out the ATO's desire to "push the boundaries" of tax litigation. It seems rare that Part IVA is not invoked where a transaction has a flavour other than "plain vanilla": have we moved from a smell test to a taste test, and what does it all mean for SME taxpayers in your client base (and what does your insurance say about Part IVA?).
This paper covers:
- the "new and improved" Part IVA
- the ATO's problems with Part IVA in the Courts
- what the new version will mean for the future
- handling the two key aspects of any Part IVA matter
- dividend access shares, asset protection and business restructuring to access the small business CGT concessions: will Part IVA apply (and which one)?
- insurance issues for advisors.