George is depicted to be the brother of the Tom, where Tom and the Adam are both architects who are depicted to be directors, shareholders and the employees of the Auckland Engineering Ltd. When George was made out of the post of engineering contract from the building company, then he went to his brother to have the solution. As per the case study is represented, the issue for George is becoming more complicated in nature. His brother advised him to engage itself in the family trust (IT Ahead) and will provide the engineering services to the building company at the rate of $120,000 per annum. Before getting involved in the work, George approached his accountant for the purpose of getting a solution for having an appropriate decision. The considerations that can be made in this case represent the proper structure regarding the decision which shows that the assigning of the services to the George will be fruitful. This will enable to have the respect back for him and the offer made was very much fruitful for George. As per the comments of the Nigel, he said that George would be paid with $50,000 per annum and George may include his wife in the organization of IT Ahead. George’s wife will be paid with the $30,000 per annum, and she will be looking after the book keepings and the administration duties. Thus with this, the issues that are indicated in this case are regarding the avoidance of the Income tax in the form of the family trust, and this enables the George to have an appropriate environment to avoid the trust. This enables the George to be facing a lot of issues which will be enabling the George to be in a difficult position to take the decision. Therefore, the explanation of the issues was made in this case illustrated to be fruitful as per the case study is undertaken and provides the appropriate framework for the study. This clearly explains the structure of the issues that were faced by the George and enabled George to face the drastic situation as in this case study taken for study.
BG1 (1) Avoidance arrangement cancelled or void: According to the Section of Income Tax 2007 Act, an arrangement for tax avoidance is void or annulled as against the Commissioner for the Income tax purposes. Here, in the undertaken case study, it can be seen that in order to avoid income tax, George has built a family trust (IT Ahead), and has performed his business under this family trust. Moreover, George himself with his wife works as an employee under the trust. They have consequently paid $50,0000/annually and $30,000/ annually. More rest of the money means $40,000 remained with the trust as George contracted with AEL annual service fee of $120,000 for his family trust (IT ahead). George has made the entire arrangement in order to avoid the Income-tax, as the family trust will require minimal tax consequences, so he built a family trust named IT ahead. Besides this, he has made himself as an employee of his family trust, and he made his wife an employee of the family trust as the women used to get much more tax benefit than the man.Thus this arrangement can be done to avoid the tax consequence. Hence, the arrangement done by George is void against the Commission by virtue of s BG1 ITA 2007.
The BG 1 (2) Reconstruction provision provides the condition to the Commissioner that the Commissioner may counteract a tax advantage, which an individual has achieved from or under a tax avoidance arrangement. The BG 1 (2) contains the term that restricts the avoidance and non-market transactions, which the individual used to arrange to take benefit of tax avoidance.
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