Category Archives: Tax Month – November 2013

*IOOF Holdings Limited v FCT – Retrospective effect of consolidation amendment applied for taxpayer with private ruling in abeyance [22]

The Federal Court has dismissed the taxpayer’s appeal and confirmed the decision of the AAT at first instance in AAT Case [2013] AATA 239, Re IOOF Holdings Limited and FCT that for the purposes of undertaking its review of the Commissioner’s deemed disallowance of the taxpayer’s objection against the Commissioner’s failure to make a private…

*Hua Wang Bank Berhad & Ors v FCT (No 15) – Wickenby case: Court restricts use of evidence on basis of self-incrimination [21]

The Federal Court has granted 2 men certificates under the Evidence Act 1995 (Cth) in respect of evidence given by them in other proceedings. The certificates were to take effect on and from 2 October 2013. In its 8 October 2013 decision in Hua Wang Bank Berhad & Ors v FCT (No 9) [2013] FCA 1022, the Federal Court…

*FCT v AAT and Cancer and Bowel Research Association Inc as trustee for the Cancer and Bowel Research Trust – DGR status: AAT ‘decision’ to remit matter to Commissioner for reconsideration not appealable as its not final [20]

The Full Federal Court has unanimously dismissed the Commissioner’s appeal from the “decision” of the AAT in AAT Case [2013] AATA 336, Re Cancer and Bowel Research Association Incorporated as trustee for Cancer and Bowel Research Trust and FCT to remit to the Commissioner for further consideration the questions of whether the taxpayer was entitled…

*Milne v The Queen – special leave granted for appeal against conviction for money laundering and tax offences [19]

The High Court heard the following applications for special leave to appeal on Fri 8.11.2013: Milne v The Queen – the High Court granted an individual special leave to appeal against the NSW Court of Criminal Appeal decision in Milne v R [2012] NSWCCA 24. The Court of Criminal Appeal had dismissed his appeal against…

*Shepherd Australia Ltd v FCT & Anor – taxpayer denied leave to appeal decision that it was not entitled to be endorsed as a DGR [18]

The High Court heard the following applications for special leave to appeal on Fri 8.11.2013: Sea Shepherd Australia Ltd v FCT – the High Court refused the taxpayer special leave to appeal to against the Full Federal Court decision in Sea Shepherd Australia Ltd v FCT & Anor [2013] FCAFC 68. In that case, the…

*Sanctuary Lakes Pty Ltd v FCT – taxpayer denied special leave to appeal decision that it was not entitled to deductions totaling $18m for golf resort [17]

The High Court heard the following applications for special leave to appeal on Fri 8.11.2013: Sanctuary Lakes Pty Ltd v FCT – the High Court refused taxpayer special leave to appeal against the decision in Sanctuary Lakes Pty Ltd v FCT [2013] FCAFC 50. The Full Federal Court decision had unanimously dismissed the taxpayer’s appeal…

*Howard v FCT – special leave granted on one ground and refused on the other [16]

The High Court heard the following applications for special leave to appeal on Fri 8.11.2013: Howard v FCT – the High Court granted the taxpayer special leave to appeal on one ground (but refused on the other) against the decision in Howard v FCT [2012] FCAFC 149. The Full Federal Court had upheld the Commissioner’s…

OECD requests public input on tax challenges of the digital economy [15]

The OECD has invited public comments and input on questions related to the tax challenges of the digital economy. This is part of the G20 Action Plan on Base Erosion and Profit Shifting (BEPS). Among other things, Action 1 of the Action Plan seeks to identify the main difficulties that the digital economy poses for…

*OECD Global Forum moves towards automatic exchange of tax information and transparency [14]

The OECD has announced that members of the Global Forum on Transparency and Exchange of Information for Tax Purposes took significant steps during a 21-22 November 2013 meeting in Jakarta, Indonesia to implement a global call for greater international co-operation against tax evasion. Actions taken include: Publication of new compliance ratings for 50 countries and jurisdictions on practical…

*Liechtenstein and San Marino sign multilateral tax co-operation agreement in Jakarta – whilst other countries deposit important documents [13]

The OECD has announced that Liechtenstein and San Marino have become the 62nd and 63rd signatories of the Multilateral Convention on Mutual Administrative Assistance in Tax Matters at a ceremony held on Thur 21.11.2013. The ceremony took place on the first day of the 6th meeting of the Global Forum on Transparency and Exchange of…