We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
A refresher on retrospectivity.
- Authors
Watts, Mark
- Abstract
The high profile case of Chevron has received a barrage of media attention in recent times. As one of the biggest tax cases in Australia, it also highlights the difficulty and uncertainty in applying the concept of retrospectivity -- an often controversial and complex concept that continues to be raised in legal arguments and policy debates concerning taxation. Chevron unsuccessfully argued that the retrospective effect of Subdiv 815-A of the Income Tax Assessment Act 1997 (Cth) rendered it an arbitrary and incontestable tax which was beyond the legislative power of the Commonwealth. The Chevron case serves as a timely opportunity for practitioners to revisit the meaning of retrospectivity and to consider the way in which taxpayers and the ATO can make use of it.
- Subjects
AUSTRALIA; AUSTRIA; TAXATION lawsuits; INCOME tax; INCOME tax laws; LEGISLATIVE power; FISCAL policy
- Publication
Taxation in Australia, 2017, Vol 52, Issue 1, p35
- ISSN
0494-8343
- Publication type
Article