Consultation: Proposed Guidance on Inbound Related Party Financing by Private Groups in Property and Construction
The Taxation Committee of the Business Law Section of the Law Council of Australia welcomes the opportunity to comment on draft Australian Taxation Office (ATO) website guidance on inbound related party financing by private groups in property and construction comprising two documents, the draft guidance (Draft Guidance) and draft examples (Draft Examples).
The Draft Guidance and the Draft Examples are not the law – rather they are “simply expressed and may provide step-by-step guidance” on the ATO’s views on the law.1
In that context, ATO views simply expressed, we wish to make the following comments on the Draft Guidance and Draft Examples. Importantly, while the ATO views are simply expressed, those views should not be inconsistent with the law.
Read the full submission below.
1 See ATO website, ‘How our advice and guidance products affect you’.
Last Updated on 11/10/2024
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