As at 7 March 2016, the Appeal news is as follows.
- The taxpayer has appealed to the Full Federal Court against the decision in Cable & Wireless Australia & Pacific Holding BV (in liquidatie) v FCT [2016] FCA 78. In that case, the Federal Court held that a foreign resident taxpayer was not entitled to a refund of some $452m that had been withheld as dividend withholding tax from an amount paid to the taxpayer for the buyback of the shares it held in Optus.
- The taxpayer has discontinued its appeal to the Full Federal Court against the decision of Griffiths J in Agius v FCT [2015] FCA 707. The Federal Court had dismissed the taxpayer’s appeal which sought to argue that the AAT had wrongly found that he, as foreign resident, had Australian-sourced income in relation to which the Commissioner raised default assessments.
- The taxpayers have discontinued their appeal to the Full Federal Court against the decision in Kafataris v DCT [2015] FCA 874. The Federal Court had dismissed the appeal of the husband and wife taxpayers who argued that a capital gain of $1.1m they each made from the transfer of jointly owned property to a wholly-owned company was entitled to the roll-over relief in Div 122 in the ITAA 1997 (transfer of assets to wholly owned company).
[LTN 44, 7/3/16]