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Taxation in Nz

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Submitted By snehalprabha
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a

*6173350000215*
6173350000215
Student ID: 15891048

Student ID:

15891048

Student Name:

Snehal Prabhavalkar

Programme Code:

AK3711

Programme Description:

Postgraduate Diploma in Professional Accounting

Class Code:

ACCT862/11

Class Description:

Taxation in New Zealand (Was 368905)

Assignment:

Assessment1

Due Date:

26-Jan-2016

Lecturer:

Ranjana Gupta

Declaration
- This assessment has been written by me and represents my own work.
- This work has not previously been submitted by myself or anyone else.
- All sourced information has been appropriately acknowledged and referenced.
- I have maintained and will continue to maintain the confidentiality of any persons/organisations referred to in this assessment.
- I permit this assessment to be copied for academic processes (such as moderation).
- I have retained a copy of this assessment electronically.
Signature ……………………………….

Date ………………………….

IntroductionIntroduction of anti-avoidance provisions takes very back in time of 1878, since then the legislation has been twisted many times to ensure interpretation and solicitation against potential treats of tax avoidance. Tax avoidance provisions are illustrated in section BG1,
GA1 and YA1 of Income Tax Act (ITA) 2007 closely read with applicable sections of Tax
Administrative Act 1994. The report aims to throw light on Tax Avoidance by briefly analysing facts of arrangements and it tries to determine whether there is possibility of violation of General Anti-Avoidance Rules (GAAR) Legitimate tax planning can lessen burden but impermissible tax avoidance tactics undertaken in attempt to avoid tax may lead to penal consequences. To decide possibility of violation of legislations; landmark cases have observed the facts of scheme with intension of parties involved and other circumstances
incidental…...

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