Australia Taxation - Advanced Practice Questions - CPA Program Australia Taxation - Advanced Exam

A 'tax benefit' for Part IVA purposes is identified by comparison with what hypothetical scenario?

The average effective tax rate of comparable taxpayers The taxpayer's prior year tax position A reasonable counterfactual or alternative postulate of what would have happened absent the scheme The position of a related foreign entity

Correct Answer:

A reasonable counterfactual or alternative postulate of what would have happened absent the scheme

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