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dc.contributor.authorFreudenberg, Bretten_US
dc.date.accessioned2017-05-03T11:38:30Z
dc.date.available2017-05-03T11:38:30Z
dc.date.issued2008en_US
dc.date.modified2011-06-30T08:45:27Z
dc.identifier.issn0812695Xen_US
dc.identifier.urihttp://hdl.handle.net/10072/20322
dc.description.abstractIt has been argued that the Australian government prefers an entity tax approach for business forms providing member(s) with limited liability and separate entity status. This contrasts a number of foreign jurisdictions that have provided tax transparency to such business forms ('tax transparent companies'), with income and/or losses directly allocated to members for tax purposes. Examples of foreign tax transparent companies include S Corporations and Limited Liability Companies in the United States, Limited Liability Partnerships in the United Kingdom; and Loss Attributing Qualifying Companies and new limited partnerships in New Zealand. A reason for the Australian government's preference is that unfettered access to tax losses by limited members could distort investments. Nevertheless, recently the Australian government provided restricted tax transparency for Incorporated Limited Partnerships used for venture capital investments ('venture capital ILPs') and controlled foreign hybrid companies ('CFC hybrids'). To address distortion concerns there are restrictions applying to allocated losses through these Australian transparent companies. However, are these restrictions adequate? This article considers whether the loss restriction rules applying to venture capital ILPs and CFC hybrids are adequate by comparing them to rules utilised in foreign jurisdictions with a history of transparent companies. This article will conclude by considering whether sufficient 'losses are lost' to justify broadening the availability of tax transparency in Australia.en_US
dc.description.peerreviewedYesen_US
dc.description.publicationstatusYesen_AU
dc.format.extent693602 bytes
dc.format.mimetypeapplication/pdf
dc.languageEnglishen_US
dc.language.isoen_AU
dc.publisherTaxation Institute of Australiaen_US
dc.publisher.placeAustraliaen_US
dc.publisher.urihttp://www.taxinstitute.com.au/go/publications/australian-tax-forumen_AU
dc.relation.ispartofstudentpublicationNen_AU
dc.relation.ispartofpagefrom125en_US
dc.relation.ispartofpageto163en_US
dc.relation.ispartofissue2en_US
dc.relation.ispartofjournalAustralian Tax Forumen_US
dc.relation.ispartofvolume23en_US
dc.rights.retentionYen_AU
dc.subject.fieldofresearchcode390118en_US
dc.titleLosing my Losses: Are the loss restriction rules applying to Australia’s tax transparent companies adequate?en_US
dc.typeJournal articleen_US
dc.type.descriptionC1 - Peer Reviewed (HERDC)en_US
dc.type.codeC - Journal Articlesen_US
gro.rights.copyrightCopyright remains with the author 2010. The attached file is reproduced here in accordance with the copyright policy of the publisher. For information about this journal please refer to the journal's website or contact the author.en_AU
gro.date.issued2008
gro.hasfulltextFull Text


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