ATO Issues Final Tax Determination that Anti-Avoidance Provisions Can Apply to Cancel Benefit of Early Stage Investor Tax Offset Scheme
The Australian Taxation Office (ATO) has announced the publication of a final tax determination on the early stage investor tax offset scheme, confirming that the anti-avoidance provisions in the Income Tax Assessment Act 1936 can apply to this scheme. This follows a taxpayer alert released in December 2024 concerning the use of circular financing arrangements designed to artificially meet th…
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