Rio Tinto Services Ltd v FCT – appeal from decision that taxpayer not entitled to input tax credits to build and maintain mining accommodation [37]

The taxpayer has appealed to the Full Federal Court against the decision in Rio Tinto Services Ltd v FCT [2015] FCA 94. The Federal Court had dismissed the taxpayer’s appeal concerning its entitlement to input tax credits (ITCs) for certain acquisitions relating to mining accommodation (employee/contractor housing) in WA. [LTN 50, 16/3/15] FJM Note As…

*Financial Synergy Holdings Pty Ltd v FCT – ‘time of acquisition’ for consolidation purposes of deemed pre-CGT asset 19 September 1985 [35]

The taxpayer has appealed to the Full Federal Court against the decision in Financial Synergy Holdings Pty Ltd v FCT [2015] FCA 53. In that case, the Federal Court held that for the purposes of determining the “allocable cost amount” (or cost base) of an asset that came to be owned by a consolidated group…

*R v Dickson (No 18) – Individual sentenced to 11 years for conspiracy to defraud the Commonwealth of $135m through false depreciation claims [34]

An individual, who was found guilty under s 135.4(5) of the Criminal Code Act 1995 of conspiracy to dishonestly cause a loss or risk of loss to the Commonwealth of potentially some id=”mce_marker”35m (as well as conspiracy to deal with the actual proceeds of crime from the conspiracy of id=”mce_marker”m), has been sentenced to imprisonment for…

*Gadens Lawyers Sydney Pty Ltd v Symond – Taxpayer’s damages for negligent advice re tax liability from company restructure reduced [33]

In a decision handed down on Tue 17.3.2015, the NSW Court of Appeal has partly allowed an appeal and has reduced the amount of damages awarded to the respondent, Mr John Symond (founder of “Aussie Home Loans”), by just over id=”mce_marker”m after finding that the primary judge had erred in including in his calculations of the…

Healy v DCT – Court rules DPN effectively served on company director by post to the address listed in ASIC records [32]

The WA Court of Appeal has dismissed a taxpayer’s appeal against his arguments about claimed non-effective service of a DPN (director’s penalty notice). A company director was served with a DPN under s 222AOE of the ITAA 1936. The DPN was enclosed in a prepaid letter sent from the ATO in Canberra on 23 August 2006 and the…

Re HVZZ and FCT – Non-commercial loss deferral discretion – AAT confirms horse breeding losses cannot offset other income [28]

The AAT has affirmed the Commissioner’s decision not to exercise his discretion in s 35-55(1)(c) of the ITAA 1997 not to apply the non-commercial loss deferral rule to a taxpayer. The taxpayer applied for a private ruling on the exercise of the Commissioner’s discretion not to apply the non-commercial loss deferral rule in s 35-10(2) and to…