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.

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.

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.

Regulating more effectively : the relationship between procedural justice, legitimacy and tax non-compliance

In recent years, a significant number of middle-income taxpayers have been making use of aggressive tax planning strategies to reduce tax. In many cases, it is unclear whether these are designed and used by tax- payers to minimize tax legally or to avoid tax illegally. Those that are designed to exploit loopholes in tax law need to be dealt with in a way that restores faith and equity to the system. But how can tax authorities best manage taxpayers who may have inadvertently become involved in such illegal tax planning practices? Using longitudinal survey data, it will be shown that attempts to coerce and threaten taxpayers into compliance can undermine the legitimacy of the Tax Office's authority, which in turn can affect taxpayers' subsequent compliance behaviour. Responsive regulation, which is based on principles of procedural justice, will be discussed as an alternative enforcement strategy.

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.

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.

101 ways to save money on your tax - legally! : 2016-2017 edition

101 Ways to Save Money on Your Tax – Legally! is the Australian taxpayer's essential guide to maximising returns. Comprehensively updated for 2016-2017, this indispensable resource explains all of the changes to the May 2016 budget to help you pay what you owe and not a penny more. You'll find answers to common questions, tax traps to avoid and plenty of tips from Mr. Taxman himself that can save you hundreds or even thousands of dollars! Leverage your business, education, family, property, medical expenses, levies, shares and superannuation to get the tax return you deserve – and are fully entitled to under Australian law. You'll also find expert advice for tax-effective investments, tax planning and how to find a great accountant, so you can position yourself for an even bigger return next year!

101 ways to save money on your tax legally! : updated for 2015-2016

101 Ways to Save Money on Your Tax–Legally! 2015–2016 sheds light on how you can increase your tax return by maximising your deductions. This practical guide explores how individual, family, property, education, employment, small business, investment property, shares, superannuation, medical expenses, levies, and other deductions can be leveraged to ensure that you receive the tax return you deserve—and that you do not overpay the government. You'll also get advice regarding tax-effective investments, tax planning, and the best way to go about finding a great accountant.Every year, you give a portion of your income to the government. While this money funds essentials like infrastructure, you certainly do not want to give more than you need to. This insightful guide provides you with the information necessary to ensure that you receive as much money back as possible on your tax return.Discover how you can maximise your deductions to increase your tax return—and get what you are entitled to back from the government each yearUnderstand the tax law changes from the May 2015 budgetAccess tips that assist you in planning and filing your taxes with your best interests in mindIdentify tax traps, and get answers to frequently asked questions101 Ways to Save Money on Your Tax–Legally! 2015–2016 is an essential resource for every Australian who pays taxes.

Moving personal tax online: the Australian Taxation Office's E-Tax initiative

In exploiting the capabilities of online technologies, governments have developed policies and launched projects to conduct transactions and deliver their services through the Internet. The motivations for this include cost cutting, efficiency improvements, service enhancements, and leadership in business transformation. However, these diverse goals are not necessarily consistent, especially in the early stages of implementation. The e-government initiative discussed in this case study (E-Tax) provided an additional service to individual Australian taxpayers by enabling them to file their tax returns online. This case study provides an analysis of the E-Tax implementation in the first three years of its operation. Data on E-Tax use compared to other filing methods show that the package worked well technically, was favorably received by users, and was consistent with policy on e-government. However, adoption levels in the early stages did not meet government targets. The analysis suggests that impediments to a greater level of E-Tax use included entrenched patterns of filing, the nature of the taxation system, and political sensitivities. The E-Tax case demonstrates how complex e-government projects can be and the need to take contextual factors into account in planning and evaluating e-government implementation.

Reforms required to the Australian tax system to improve biodiversity conservation on private land

Private land conservation forms an integral part of Australia’s natural resource management and biodiversity conservation efforts, and the past two decades have seen a significant growth in the establishment of in-perpetuity conservation covenants. Specifically, conservation covenants address key national goals such as building the National Reserve System and expanding the markets for ecosystem services. However, a number of financial barriers exist to achieving these goals, and the national tax review in the form of the Tax White Paper Task Force provides an opportunity to address these barriers. This article provides a number of specific recommendations which outline how these financial barriers for private land conservation might be addressed by the Federal Government.