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Construction PRO
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.
The Tax Office has asked the High Court to reverse a landmark ruling that found an unpaid present entitlement to a corporate beneficiary is not a loan under tax law, a decision that affects $50 billion in trust distributions.
An appeals court has found that an unpaid present entitlement to a corporate beneficiary is not a loan under tax law, upending the ATO’s longstanding practice of treating UPEs as part of a trustee's assessable income.
The High Court has denied the ATO's request that it weigh in on Australia's transfer pricing regime, leaving in place a Full Court victory for mining giant Glencore that left it paying $2 million of a $92 million bill relating to the sale of copper from a mine in Cobar, NSW.
Health care giant Healius has lost its application to the High Court to challenge a $60 million win for the Australian Taxation Office.
The Australian Taxation Office has been blocked from indirectly recouping GST lost in a major tax scam by allegedly crooked gold traders with the Full Federal Court finding a $208 million demand sent to a defunct gold refiner had incorrectly interpreted the GST Act.
The Australian Taxation Office has secured a Full Federal Court victory in its $60 million tax battle with Healius, overturning a ruling that found the healthcare company could claw back a multi-million dollar tax refund.
Maurice Blackburn has lost a long-running fight with the Australian Taxation Office over a tax bill on two massive class action settlements secured by the firm for thousands of Black Saturday bushfire victims.
Maurice Blackburn's battle with the Australian Taxation Office over a tax bill on class action settlements for thousands of Black Saturday bushfire victims went to court Tuesday, and the landmark case may turn on whether or not the law firm's administration of the settlement distribution scheme counts as a business.