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Effective disclaimers
Published on 01 Feb 18 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE
In the landmark case of FCT v Ramsden, the Full Federal Court held that disclaimers by particular beneficiaries were “necessarily” ineffective and provided guidance on what is required for a disclaimer to be effective. However, despite the guidance provided by the Full Federal Court in the Ramsden case, several recent cases have demonstrated that taxpayers continue to be troubled by the difficulties in making effective disclaimers — either by the form of those disclaimers or the circumstances in which they are made. For advisers, it is critical to be sensitive to these issues so that one can identify when a disclaimer is called for, and ensure that the interest is disclaimed effectively. This article focuses on the relevance of disclaimers to income tax disputes by reference to recent decisions, noting that there is also recent authority on the effectiveness (or lack thereof) of disclaimers in the context of payroll grouping provisions.
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