The Australian Taxation Office released for comment a draft practice statement PS LA 2005/24 which deals with the application of the general anti-avoidance rules (GAAR) in Part-IVA of the Income Tax Assessment Act 1936 on 13 August 2015. This Draft will replace the existing Practice Statement PS LA 2005/24. The amendments were required to take into account current changes to the general anti-avoidance rules along with relevant decisions of court.