The defendant has lodged an appeal to the WA Court of Appeal against the decision of McKechnie J in Palermo v Palermo [No 2] [2014] WASC 6. In that case, the WA Supreme Court had held that 2 brothers, who conducted an accounting practice and other businesses, were not in partnership. The defendant in the matter…
The Qld District Court has removed a sentence previously imposed on a man for non-lodgment of returns after finding there were “extenuating circumstances” allowing the discretion. The District Court heard the man pleaded guilty to 4 charges against the TAA for failing to lodge income tax returns for the 2006, 2007, 2009, and 2010 financial…
The Federal Court has dismissed the taxpayers’ appeal from the decision in AAT Case [2013] AATA 112 in which the AAT found the taxpayers had failed to discharge the burden of proving that assessments raised by the Commissioner were excessive. The assessments were in respect of $20m deposited into the personal bank account of the…
The Federal Court has held that a resident taxpayer, who was entitled to a deferred payment over 5 years of USid=”mce_marker”60m following his retirement from a global international commodity trading businesses, was assessable on the payment as ordinary income in the income year in which the right to the payment arose. The payment to the taxpayer was…
The Federal Court has held that, where an assessment has not been issued, s 254 of the ITAA 1936 does not require retention of monies by a liquidator upon the mere happening of a CGT event (ie a disposal of property) and payment of those monies to the ATO. The taxpayer company had been placed into…
The Federal Court has dismissed a taxpayer’s appeal from the decision in AAT Case [2012] AATA 579, Re Nelson and FCT in which the AAT confirmed the taxpayer was not carrying on a business of primary production during the 2004-2009 years of income on a 500 acre property in Queensland he purchased and that therefore…
The Federal Court has held that licensing payments by an Australian distributor to a Canadian software supplier were royalties under the Australia/Canada DTA. The taxpayer is the Australian distributor of working papers software that was developed by a Canadian resident entity. The taxpayer pays annual fees to the Canadian company under its licensing arrangements with…
The Federal Court has imposed civil penalties in relation to 2 mass-marketed managed investment schemes that were implemented in a way that was “materially different” from that described in ATO Product Rulings in contravention of s 290-50(2), Sch 1 of the TAA. Barossa Vines Ltd was the responsible entity of managed investment schemes conducting a viticultural business.…
The High Court has refused a taxpayer special leave to appeal from the Full Federal Court decision in FCT v Fabig [2013] FCAFC 99. That decision involved 2 taxpayers, Matthew Dickinson and Janina Fabig. In that case, the Court had allowed the Commissioner’s appeal and held that the AAT, at first instance, had erred in finding…
The High Court on Fri 14.2.2014, refused the taxpayer’s application for special leave to appeal against the Full Federal Court decision in SCCASP Holdings as trustee for the H&R Super Fund v FCT [2013] FCAFC 45. The Full Federal Court had dismissed the taxpayer’s appeal from the decision in SCCASP Holdings as trustee for the…