The Commissioner has applied for special leave to appeal to the High Court against the decision of the Full Federal Court in FCT v Macquarie Bank Limited [2013] FCAFC 13. In that case, the Full Federal Court unanimously dismissed the Commissioner’s appeal and held that a member of a consolidated group was not subject to Pt IVA in respect of a capital gain it made from selling shares as the Court considered there was no “tax benefit” under the scheme.
[LTN 73, 18/4/13]