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Dissected debt : developing a better legislative response to FCT v Myer Emporium Ltd

Krever, Richard 2002, Dissected debt : developing a better legislative response to FCT v Myer Emporium Ltd, Australian tax review, vol. 31, no. 3, pp. 125-138.

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Title Dissected debt : developing a better legislative response to FCT v Myer Emporium Ltd
Author(s) Krever, Richard
Journal name Australian tax review
Volume number 31
Issue number 3
Start page 125
End page 138
Publisher Law Book Co.
Place of publication [Sydney, N.S.W.]
Publication date 2002-09
ISSN 0311-094X
Summary After many decades of actual and proposed reform, Australia's rules for the taxation of debt arrangements remain deeply flawed. A notable problem is the absence of appropriate rules for dissected debt arrangements, where a creditor dissects a debt into interest and principal
repayment components and disposes of one or both of these separately, as occurred in the leading case ofFCT v Myer Emporium Ltd. The knee-jerk reaction to Myer by the High Court and the legislature is a model of bad tax policy and bad tax law. The approach adopted overseas, using the United States as the clearest example, is a logical one for Australia to follow.
Language eng
Field of Research 180125 Taxation Law
HERDC Research category C1 Refereed article in a scholarly journal
ERA Research output type C Journal article
Persistent URL http://hdl.handle.net/10536/DRO/DU:30001818

Document type: Journal Article
Collection: Law
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