*Commissioner appeals AAT loss in Re Dickinson and FCT; Re Fabig and FCT – where it was held that the taxpayers were entitled to scrip-for-scrip relief [25]

The Commissioner has appealed to the Federal Court against the decisions in 2 AAT cases that had identical circumstances – AAT Case [2013] AATA 25, Re Dickinson and FCT, and AAT Case [2013] AATA 26, Re Fabig and FCT. The AAT had held that 2 taxpayers in identical circumstances were entitled to scrip-for-scrip roll-over relief under Subdiv 124-M of the ITAA 1997 in relation to the exchange of their shares in a company under an arrangement whereby they were offered cash and shares in another company in return [for their shares – in approximately equal proportions], though the consideration was split “unevenly” between the taxpayers in terms of their shareholdings.

[LTN 33, 19/2/13]