Daniel McInerney

Victoria’s State Revenue Office has gone to the High Court in its battle with shopping centre landlord Vicinity Funds over $82.5 million in stamp duty.

Victoria’s State Revenue Office has lost its challenge to a decision for shopping centre landlord Vicinity Funds, which quashed a $82.5 million stamp duty assessment on land occupied by Myer and the Lonsdale St Emporium.

The Full Federal Court has tossed Tabcorp’s appeal of a finding that it is not entitled to a $1.49 billion tax deduction under rules governing the taxation of financial arrangements. 

A court has weighed in on the tax treatment of the proceeds of developed land, finding the landowner did not engage in business-like conduct such that his profits should be considered income.

Victoria's State Revenue Office must pay the bulk of costs incurred by shopping centre landlord Vicinity in a successful challenge to $82.5 million in stamp duty slapped on land occupied by Myer and Emporium in Melbourne's city centre.

The ATO has lost its bid for a court-appointed joint expert after it failed to find a witness with legal expertise in structuring hotel sales who was not “commercially conflicted”, with a judge ruling that Hilton should not be prevented from relying on an expert report it already obtained.

Construction company Clough Limited has appealed a ruling that found it cannot claim over $15 million paid to employees for cancellation of their shares and options as a tax deduction.

Construction company Clough Limited cannot claim over $15 million paid to employees for cancellation of their shares and options as a tax deduction, with a judge dismissing the Perth-based company’s appeal of a decision from the Commissioner of Taxation.

Maurice Blackburn has come up short in its challenge to a multimillion dollar tax bill for a record settlement payout in the Black Saturday bushfire class actions.