Does context and purpose narrow the reach of s 100A of the Income Tax Assessment Act 1936?
Many tax professionals have observed a trend by the ATO to apply s 100A of the Income Tax Assessment Act 1936 (Cth) (ITAA36) more enthusiastically than in the past, bringing into focus whether even basic transactions involving trusts are now open to indefinite scrutiny (as s 100A has an unlimited period of review).
In light of anticipated ATO guidance, it might be questioned whether a wide application of s 100A may be contrary to judicial pronouncements which emphasise the significance of context and purpose when interpreting and applying statutory provisions.
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