The Full Federal Court has allowed the Commissioner’s appeal against the decision of Pagone J in Resource Capital Fund IV LP v FCT [2018] FCA 41. The Federal Court had allowed an appeal by 2 US private equity limited partnerships in relation to the proper tax treatment of substantial profits made on the sale their shares in an Australian mining company (Talison Lithium Limited). The case touches on a range of issues including corporate limited partnerships, liability to tax, source of income, residence under DTAs, Div 855 TARP.

See below for a summary of the case.

[Tax Month – Jan-April 2019]

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