*Hua Wang Bank Berhad v FCT (No 8) – Use of affidavits from previous litigation allowed [13]

The Federal Court has granted the Commissioner’s application to use the affidavits of several persons that had been served on the Commissioner in other tax proceedings that were ultimately settled in the Hua Wang Bank Berhad litigation. In finding that the circumstances were sufficiently “special” to grant the Commissioner’s application the Court took into account…

*Hua Wang Bank Berhad v FCT (No 7) – Wickenby: evidence not improperly obtained [11]

The Federal Court has dismissed the taxpayers’ arguments and found that documents obtained by the Commissioner from the Cayman Islands Tax Information Authority (“CITIA”), and on which the Commissioner based assessments issued to the taxpayers, totalling some $40m, from the sale of Australian shares, had not been improperly obtained. This was the case even though…

*Macquarie Bank Limited & Anor v FCT – Full Federal Court refuses Macquarie Bank leave to appeal in OBU (anti ‘U-turn’) case [9]

The Full Federal Court has refused Macquarie Bank Ltd leave to appeal against the decision of Edmonds J in Macquarie Bank Limited & Anor v FCT [2013] FCA 887. Edmonds J refused to review a decision of Commissioner and his delegate to refuse to apply his view of the law on the allocation of Offshore Banking Unit…

*FCT v Resource Capital Fund IV LP & Ors – Commissioner wins appeal: s255 Notice held effective to withhold from foreign currency owed to taxpayer [7]

In a decision handed down on Tues 22.10.2013, the Full Federal Court has unanimously allowed the Commissioner’s appeal and held that s 255 notices requiring a company to retain out of Canadian currency sufficient funds to meet a taxpayer’s Australian income tax liability were effective. The taxpayers (RCF IV and RCF V) were limited partnerships formed…