The ATO on Mon 27.8.2012, released Decision Impact Statements on 2 Pt IVA cases – the second of which was: – in that case, the Full Federal Court confirmed that Pt IVA did not apply to a scheme under which the FCT v Futuris Corporation Limited [2012] FCAFC 32value shifting provisions operated to increase the…
The ATO on Mon 27.8.2012, released Decision Impact Statements on 2 Pt IVA cases – the first being: – in that case, the Full Federal Court held that Pt IVA did not apply to a scheme, which reduced a capital gain made by an Australian company on the transfer of its shares to a related…
The ATO Wed 22.8.2012, released a Decision Impact Statement on the decision in Soong v DCT [2011] NSWCA 26. That case involved the former s 222AOE of the ITAA 1936 and the NSW Court of Appeal (with a 5 member bench) unanimously held that the 14-day period within which a director was required to take…
The ATO on Thur 9.8.2012, released an Interim Decision Impact Statement on the decision in FCT v Byrne Hotels Qld Pty Ltd [2011] FCAFC 127. In that case, the Full Federal Court by majority confirmed that for the purpose of accessing the CGT small business concessions, a real estate agent commission incurred on the sale…
The ATO has issued a Decision Impact Statement on the Full Federal Court’s decision in Esso Australia Resources Pty Ltd v FCT [2012] FCAFC 5. The Full Federal Court had unanimously overturned a decision at first instance and held that Esso Australia Resources Pty Ltd was not entitled to a deduction for contract payments made…
The Commissioner has appealed to the Full Federal Court against the decision of Perram J in Messenger Press Proprietary Limited & Ors v FCT [2012] FCA 756. The Federal Court had held that some 18 News Corp group companies were entitled to over $2bn in deductions for foreign exchange gain losses in the 2001 and…
The taxpayer has lodged a notice of appeal to the Federal Court against the decision of Deutsch DP in AAT Case [2012] AATA 477, Re Yazbek and FCT. The AAT had held in an interlocutory matter that a taxpayer was at all relevant times a beneficiary of a trust estate and that an amended assessment…
The taxpayers (husband and wife) and the Commissioner have lodged notices of appeal to the Full Federal Court against the decision of Jessup J in Gashi & Anor v FCT[2012] FCA 638. It would also appear that the Commissioner has lodged a notice of objection to the competency of the husband’s appeal. The Federal Court…
The taxpayer has lodged a notice of appeal to the Full Federal Court against the decision of Marshall J in Collection Point Pty Ltd v FCT [2012] FCA 720. The Federal Court had denied the taxpayer’s request to the ATO under the Freedom of Information Act 1982 for information concerning unclaimed superannuation on the basis…
The taxpayer and the Commissioner have both lodged notices of appeal to the Federal Court against the decision in AAT Case [2012] AATA 404, Re Sanctuary Lakes Pty Ltd and FCT. The AAT had confirmed that the taxpayer was not entitled to deductions for over $18m in relation to a range of outgoings incurred in…