Tax

Talks between the tax office and the family of former Labor politician Eddie Obeid to settle recently revived litigation have stalled, a court has been told. 

Jones Day has recruited an EY partner to join its team as of counsel, strengthening the law firm's growing tax controversy practice.

Several entitles in the Cottle family group, which owns construction company FDC Construction & Fitout, have won more time to serve a $280 million negligence suit on accounting firms Nexia and PricewaterhouseCoopers over more than two decades of tax and financial advice.

Real estate investment firm ISPT on Wednesday failed in its challenge to a $10.7 million stamp duty assessment, with a judge finding Victoria's revenue office was entitled to lump two acquisitions together.

Gold producer Evolution Mining has won an initial trial against the Australian Tax Office over a purported decision to cancel the transfer of $31 million in tax losses after it acquired Conquest. 

The Property Council has called on the federal government to abandon proposed discretionary trust tax changes, arguing the reforms would undermine efforts to meet Australia's 2029 housing targets.

Twelve cases brought by Labor politician Eddie Obeid and his family against the tax office are back on track after they were stayed in 2017 pending the outcome of a criminal prosecution against Obeid and his son Moses.

Liquidators appointed by the court to five companies behind $130 million worth of construction projects in Brisbane have won more time to bring potential claims while they investigate several matters, including an allegedly “very odd” tax situation.

The executor of a $100 million estate is amending its case against PricewaterhouseCoopers that alleges the firm gave negligent advice and acted with a conflict of interest while advising on tax liabilities.

A former director of defunct developer Maxcon Developments and his family members have lost a bid to set aside examination orders, with a judge rejecting their argument that the ATO was using the examinations as a “dry run” for other claims.