Professional privilege and 'aggressive tax planning.'

Article Abstract:

There may be circumstances when Australian taxpayers enter into legal professional privilege with lawyers. The case involved a decision by the country's tax office to charge a lawyer named Coombes with the failure to comply with a section 264 notice. The tax office had wanted Coombes to submit the names and addresses of clients who had participated in a certain tax planning arrangement. However, it was determined that the communications between Coombes and the clients constituted privileged communications.

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The Ralph Committee goes shopping

Article Abstract:

The Ralph Committee will provide the Australian government with a list of tax options that could result in changes to the way citizens are taxed in the country. The committee, which has no power to implement the tax suggestions, identified many issues that the government could consider for reform. Some of these issues include handling goodwill, wasting assets, and trading stock.

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Deductibility of interest - the Steele decision

Article Abstract:

An Australian taxpayer named Mrs. Steele tried to take a tax deduction for property that was sold because the taxpayer could not use the land the way that she wanted. The taxpayer lost the case, lost the appeal but did not lose the appeal to the Full Federal Court.

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