General anti-avoidance rule authorises treating arrangements as impermissible and determining tax consequences under the Chapter. The provision empowers the General Anti-Avoidance Rule to declare an arrangement an impermissible avoidance arrangement and determine tax consequences ... Summary
General anti-avoidance rule authorises treating arrangements as impermissible and determining tax consequences under the Chapter.
The provision empowers the General Anti-Avoidance Rule to declare an arrangement an impermissible avoidance arrangement and determine tax consequences under the Chapter, overriding other Act provisions; it also permits application of Chapter provisions to any step or part of an arrangement so that constituent steps may be assessed and adjusted independently.
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