Australian Pipeline Limited as Responsible Entity for the Australian Pipeline Trust v FCT – taxpayer appeals decision denying depreciation on pipeline under consolidation regime [23]

The taxpayer has appealed to the Full Federal Court against the decision in Australian Pipeline Limited as Responsible Entity for the Australian Pipeline Trust v FCT [2013] FCA 1372. The Federal Court had dismissed the taxpayer’s appeal from an adverse private ruling concerning the issue of whether the conditions for the exception provided in s 705-47(5) of the ITAA 1997 (dealing with the consolidation tax cost setting amount for assets where entities become subsidiary members of consolidated groups) were satisfied for the period 1 July 2011 to 30 June 2012.

[LTN 18, 29/1/14]