FCT v AP Energy Investments Pty Ltd – a Chinese company was not liable for CGT on sale of shares in Australian mining company because of the first instance Tribunal decision as to the value of ‘mining information’
On Wednesday 25.5.2016, the Federal Court dismissed the Commissioner’s appeal from the decision in AAT Case [2013] AATA 626, Re AP Energy Investments Limited and FCT, effectively holding that the taxpayer company (a Chinese company) was not liable for CGT on sale of shares it held in an Australian mining company. The AAT had ruled that…