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Fragmenting the Pt IVA lore applying to stapled structures

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Published on 01 Aug 17 by "THE TAX SPECIALIST" JOURNAL ARTICLE

In TA 2017/1, the Australian Taxation Office expressed concern with “arrangements which attempt to fragment integrated trading businesses in order to re-characterise trading income into more favourably taxed passive income”. Among such arrangements, the ATO singled out stapled security structures, of which it identified four types: financing, rentals, royalties, and synthetics. The Commonwealth Treasury is also currently consulting on the “integrity risks” regarding the use of stapled structures. In that context, this article is concerned with rental stapled structures, and the extent, if any, to which Pt IVA of the Income Tax Assessment Act 1936 might apply to such structures. The author seeks to address what are seen as shortcomings and a lack of analysis in the ATO’s apparent views on the matter, as expressed in its public pronouncements. The article identifies types of rental stapled structures and analyses the possible application of Pt IVA to them.

Author profile

Stuart Dall
Stuart Dall, ATI, is a Partner in the Tax Consulting team at Pitcher Partners, and has over 20 years of experience advising clients on Australian business taxation issues. Stuart’s clients include private and publicly listed organisations across a wide range of industry sectors, including financial services, property and infrastructure. Stuart has advised on a wide range of M&A transactions, group restructures and initial public offerings, where he has led the delivery of tax services in supporting clients with transaction structuring, funding, due diligence and implementation support. - Current at 31 October 2019
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