Tax

At the centre of Tuesday night's budget are tax reforms aimed at investment structures, negative gearing, and the capital gains perk that represent the biggest change to the taxation of Australian savings since 1999.

The centrepiece of Tuesday night's budget are tax reforms aimed at capital gains, negative gearing and investment structures, with the Albanese government spruiking the changes as supporting new housing, while experts say the devil is in the detail.

Shell’s Australian arm has succeeded in challenging a finding by the ATO that it needed to pay an additional $99 million in capital gains tax after it disposed of its 34.27 per cent holding in Woodside Petroleum.

A court has dismissed a challenge by ISPT to a $20 million tax assessment by the NSW State Revenue's Office over two acquisitions that increased its stake in Fort Street Real Estate Capital Fund.

Three partners have joined Mills Oakley, expanding the law firm's government, taxation and workplace relations teams.

Tabcorp wants the High Court to overturn a ruling that found it was not entitled to a $1.49 million tax deduction for loss when a licence with the state of Victoria expired in 2012.

Global infrastructure manager Palisade Investments has scooped up a battery energy storage system under construction 50 kilometres from Adelaide, which has already secured a long-term tolling agreement with Origin Energy.

Rideshare giant Uber is not a passive intermediary between drivers and riders, the NSW Office of State Revenue has told the High Court in a case over $81 million in payroll tax, but controls trips via its platform "from start to finish".

The Commonwealth has appealed a ruling that found the ATO knowingly received millions misappropriated by a former Kupang Resources director in order to satisfy a tax debt against him and skewered the office's “policy of wilful blindness” in pursuit of the debt.

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.