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The Practicalities of Value Shifting seminar paper
Published on 03 Dec 03 by NATIONAL EVENTS, TAXATION INSTITUTE OF AUSTRALIA
This seminar paper covers the following issues:
- accessing the myriad of different exceptions under new value shifting rules
- direct value shifting - an examination of changes from old Div 140
- indirect value shifting - the practical shifting implications of these new provisions
- an analysis of specific value shifting issues commonly arising for business, such as dividend access shares, debt
forgiveness, interaction with demergers and consolidations.
This paper was also presented by Ken Schurgott at the A Tax Focus for Small Business and the Rural Industry seminar held in Ballina on 21 May 2004.
This is a slightly modified version of a paper presented by the author at the 11th National Tax Intensive Retreat in Noosa on 21 August 2003.
Author profile
Lachlan Wolfers CTA
Lachlan Wolfers, CTA, is the Global Head of Indirect Taxes for KPMG, and also the Global Head of Data for KPMG Tax & Legal. He is also the National Leader of KPMG Law in Canada. He has over 25 years of experience advising multinational companies on indirect taxes, as well as tax transformation and technology. Lachlan is passionate about the role of indirect taxes in driving developments in the digitalization of the tax function. His recent publications, 'Transforming the in-house tax function through Technology', ‘The Future of Indirect Taxes to 2030‘, ‘The Future of VAT in a Digital World’ and ‘The Future of Generative AI in the Tax Profession’ all seek to provide insights on developments in areas like indirect taxes, how data is managed in the tax function and in the use of technologies to chart a course to the future. Lachlan has a strong sector focus on the digital economy and in the financial services sectors, and acts for many of the largest companies in these sectors, including for industry bodies. Lachlan also has considerable experience in the implementation of VAT/GST systems, having done so in Australia in the year 2000, and in China from 2012 to 2016. In 2020 Lachlan was awarded the Indirect Tax Advisor of the year for the Asia Pacific region by the International Tax Review. Lachlan has a long history of providing support and expertise to policymakers, finance ministries and tax authorities around the world, including in China, Australia and the UK, as well as the OECD. He is admitted as a Solicitor to the Supreme Court of NSW, and is called to the Bar by the Law Society of Ontario. Earlier in his career, Lachlan was the Associate to Justice Keith Mason, President of the NSW Court of Appeal. Lachlan has co-authored the leading textbook on capital gains tax in Australia (with Adjunct Professor Gordon Cooper AM), as well as authoring chapters for textbooks on income tax and GST. He was previously a National Director of the Taxation Institute of Australia. - Current at 19 September 2025
This was presented at 11th National Tax Intensive Retreat: A Balancing Act .
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