Tax planning, avoidance and evasion in Australia 1970-2010 : the regulatory responses and taxpayer compliance

This article examines tax avoidance strategies used by Australian taxpayers over the last four decades and analyses the regulatory responses by the government, noting a move away from the ‘command-and-control’ approach of the 1980s towards one of ‘responsive regulation’ and ‘meta risk management’. It is argued that despite inherent complexity issues, this regulatory approach has nevertheless contributed to the fostering of trust and a perception of fairness in the Australian tax system.

Aggressive tax planning : differentiating those playing the game from those who don't

The study reported in this paper examined a group of Australian taxpayers who have expressed a preference for a creative and aggressive tax agent. The study attempted to understand how high-risk taxpayers and high-risk practitioners form their partnerships by examining aggressive taxpayers' attitudes and perceptions of the Australian tax system. Data were taken from 2040 Australian taxpayers who had responded to a national survey on tax issues. Results from a series of independent sample t-tests revealed that there are a number of important differences between 'aggressive' and 'non-aggressive' taxpayers. Finally, a logistic regression analysis was used to determine which variables most effectively differentiated aggressive taxpayers from non-aggressive taxpayers. The findings are discussed in a regulatory context and possible solutions for how tax authorities might deal with this high-risk group of taxpayer are suggested.

Effectiveness of Liechtenstein entities to prevent the application of Australian income tax attribution regimes

Analyses the most common structures of Liechtenstein. The Anstalt, Stiftung, Trust, Business Trust and Company are described and the taxation consequences for an Australian investor considered. The analysis covers the CFC, FIF, transferor trust, deemed entitlement and anti-avoidance rules in Australian income tax law.

An examination of taxpayers' attitutes towards the Australian Tax System : findings from a survey of tax scheme investors

In recent years, the number of taxpayers involved in aggressive tax planning has more than doubled, posing a serious threat to the integrity of Australia's tax system. To deal with the problem, the Australian Taxation Office (ATO) implemented a number of initiatives aimed at combating aggressive tax planning. Part of the ATO's crackdown involved issuing amended assessments to the 42,000 Australians who invested in mass marketed tax schemes. The majority of investors, however, resisted the ATO's attempts to recover scheme related tax debts. This paper discusses the findings of an empirical study that shows that the resistance was due partly to the manner in which the ATO dealt with the schemes issue. Using survey data collected from 2301 tax scheme investors, and 2040 taxpayers from the general population, it will be shown that those who invested in tax schemes are more disillusioned with the tax system, are more hostile and resistant toward the ATO, and are more likely to resent paying tax as a result.

101 Ways to save money on your tax - legally! 2014-2015

Stop giving your money away!You work hard for your money, and you work even harder to set and keep a budget that makes the most of it. But when tax time arrives, do you feel shorted on your return? Nearly everyone has to pay taxes, but the government is only entitled to so much of your money. You might be letting them keep hundreds or even thousands of dollars that rightfully belong to you. No matter what your accounting habits have been so far, you can still claim what's yours.101 Ways to Save Money on Your Tax—Legally! 2014 – 2015 is your ultimate guide to maximising your return. Author Adrian Raftery, a.k.a. Mr. Taxman, is Australia's leading personal taxation expert. In the book, Raftery provides the information you need to get back every single dollar you're entitled to, plus tips and tricks that help you get the most out of deductions related to:•You, your family, and your property•Education, employment, and small business•Investment property, shares, and superannuation•Special circumstances, including medical expenses and leviesThe book also contains advice on related matters, including tax-effective investments, tax planning, and how to find a great accountant. All information has been updated to reflect tax law changes wrought by the May 2014 budget. If you're tired of paying too much tax and seeing too little return, 101 Ways to Save Money on Your Tax—Legally! 2014 – 2015 is your comprehensive guide to putting things right, starting now.

The taxpayers'€™ charter : a case study in tax administration

The Australian Taxpayers'€™ Charter was introduced in 1997 and a revised version in November 2003. This is therefore an appropriate time to review the contribution of this initiative. This article traces the development of such modern charters and then specifically the development of tax charters. The Australian Taxpayers' Charter and the Australian Tax Office'€™s ("€œATO"€) experience with it are then examined. Among other possible advantages, the Charter may be used as a measure of the ATO'€™s performance. Taxpayers’ views regarding the extent to which the ATO meets its obligations under the Taxpayers'€™ Charter, as expressed in two surveys of Australian voters (N = 2,040 and 2,374), are presented. Generally the taxpayers are supportive. The results of the survey also support the ATO'€™s view that the Charter fits in with compliance policy. Finally, the Charter demonstrates how initiatives in tax administration might he successfully achieved.