Monthly Archives: November 2019

Glencore transfer pricing victory in the Federal Court – Commissioner appeals his loss

On 7 October 2019, the Australian Financial Review published an article, by Tom McIlroy, entitled: ATO appeals $92m Glencore transfer price ruling. This is a reference to the Federal Court transfer pricing decision, in favour of the taxpayer, by Her Honour Justice Davies: Glencore Investment Pty Ltd v CofT [2019] FCA 1432 on 3 September 2019 (see…

Lex Greensill fights ATO in the Federal Court over $60m in capital gains

On 23 October 2019, the Australian Financial Review published an article by Hannah Wootton and Luke Housego, entitled: Lest Greensill fights ATO over $60m in capital gains. See below, for the full article. FJM 2.11.19 [Tax Month – October 2019]      

Sharpcan Pty Ltd – High Court finds for Commissioner holding that expenditure on ‘gaming machine entitlements’ was capital and not s8-1 deductible or s40-880 amortisable as ‘black hole’ expenditure

On 16 October 2019, the High Court unanimously allowed an appeal from a judgment of the Full Court of the Federal Court of Australia concerning the Commissioner of Taxation v Sharpcan Pty Ltd [2019] HCA 36. This concerns the deductibility, under the Income Tax Assessment Act 1997 (Cth) (“the 1997 Act“), of payments to acquire gaming machine entitlements (“GMEs”) under the Gambling…