Abstract:
Author: Jeffrey S. Kinsler, Assistant Professor of Law, Marquette University Law School. L.L.M., Yale
Law School, J.D., Valapraiso University. Abstract: Australian tax law presents a possible prototype for the reform of gift
taxation in the United States. Unlike the United States, Australia does not impose a
separate transfer tax on gifts and bequests. Rather, gratuitous transfers of appreciated
property are treated as capital gains under Australian tax law, exposing donors to income
taxation. In an effort to interject the Australian model of taxation into the already robust
debate over how best to reform the U.S. transfer tax system, this article examines the
advantages and disadvantages of the Australian system and the Australian Income Tax
Assessment Act ("ITAA").
