Nature of a tax avoidance scheme
40C Nature of a tax avoidance scheme
For the purposes of this Part, a tax avoidance scheme is any scheme that a person, whether alone or with others, enters into, makes or carries out for the sole or dominant purpose of enabling liability for tax to be avoided or reduced.
It does not matter that the scheme is entered into, made or carried out wholly or partly outside South Australia.
In determining the sole or dominant purpose for which a scheme is entered into, made or carried out, any purpose relating to avoiding, reducing or postponing a liability for foreign tax is to be disregarded.
In this section—
foreign tax means a duty, tax or other impost under a law of another State, a Territory, the Commonwealth or a jurisdiction outside Australia.
This Act’s bill:Second reading speech
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