Evans v DCT – Difference between conclusive and non-conclusive RBA debts not appreciated and new trial ordered by NSW Court of Appeal [23]

The NSW Court of Appeal has unanimously allowed a taxpayer’s appeal from a decision of the District Court in which judgment was entered for the Deputy Commissioner against the taxpayer for a Running Balance Account (RBA) debit of some $500,000, and has ordered a new trial in respect of the matter. Before the Court of…

Professional Administration Service Centres Pty Limited v FCT – Taxpayer’s appeal allowed: Petroulias’ GST appeal unjustly dismissed at first instance [18]

The Full Federal Court has unanimously allowed a taxpayer’s appeal from the Federal Court decision in Professional Administration Service Centres Pty Limited v DCT [2012] FCA 278 in which the Federal Court summarily dismissed the taxpayer’s appeal against various GST assessments. The matter had been dismissed essentially on the basis there had been “significant default”…

Intoll Management Pty Ltd v FCT – Dividends of $183m non-assessable, non-exempt under s 23AJ to unit trust head of a consolidated group [17]

In a decision handed down on Tue 11.12.2012, the Full Federal Court has unanimously allowed the taxpayer’s appeal from an adverse objection decision and held that dividends of id=”mce_marker”83m paid to the taxpayer by companies incorporated in Luxembourg were excluded from assessable income by virtue of being non-assessable, non-exempt (NANE) income pursuant to s 23AJ of…

FCT v Consolidated Media Holdings Ltd – Consideration for off-market share buy-back generated capital gain [16]

The High Court on Wed 5.12.2012, unanimously allowed the Commissioner’s appeal from a decision of the Full Federal Court (in Consolidated Media Holdings Limited v FCT [2012] FCAFC 36) and upheld an assessment that Publishing and Broadcasting Ltd (“PBL”) (later called “Consolidated Media Holdings Ltd”) made a capital gain when shares it held in Crown…

Multinational corporate tax minimisation – Treasury’s response to be informed by a specialist reference group [15]

In November 2012, the Assistant Treasurer announced that he had asked Treasury to develop a scoping paper, to be led by the head of the Revenue Group, Rob Heferen to examine the perceived risks to the sustainability of Australia’s corporate tax base from multinational tax minimisation strategies and to identify potential responses. The review by Treasury is…