BCI Finances Pty Limited (in liq) v Binetter (No 4) – Wickenby: Major victory for Commissioner: recovery of over $120m via liquidator of 4 Binetter family companies

Tax Month - November 2016

In a long-running Wickenby related matter involving offshore tax evasion, the liquidator of 4 companies (the applicants) – acting on behalf of the Commissioner as the only creditor of the companies – has been successful in the Federal Court in arguing that certain directors of the companies (the respondents) breached their fiduciary duty in engaging…

Nudie clan’s $130m tax mistake: the split that doomed the Binetter family – tax lawyer: Michael should have learned Hebrew better (and not taken his sister in law)

Tax Articles

Copy of article appearing in the Australian Financial Review on 30 November 2016, by by Neil Chenoweth. Deborah Huber (pictured below) is at the heart of this story.  Deborah Huber and Ronald Binetter: their evidence against the other Binetter family members was damning. Facebook If tax lawyer Michael Binetter has one regret, from his new home in New…

Re McKinnon Holdings (NSW) Pty Ltd and FCT – Claim for input tax credits denied – no payment made for supply and no assumption of finance liabilities by the purchaser/taxpayer (after agreement, nothing done)

Tax Month - November 2016

The AAT has confirmed that a taxpayer was not entitled to claim input tax credits of over $90,000 in relation to “acquisitions” from an associated entity. An associated entity of the taxpayer owned assets, most of which were subject to charges held by third party financiers. The taxpayer argued that under an agreement entered into with…