Tax

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. 

In a hearing on its challenge to $10.6 million in stamp duty tax, ISPT said Monday Victoria's State Revenue Office was not entitled to aggregate two acquisitions that increased its stake in the Fort Street Real Estate Capital Fund to 95 per cent.

The High Court has declined to weigh in on a dispute between the tax office and Canberra developer Geocon over excess GST on $115 million in sales from a 360-unit development.

Mills Oakley has been hit with a negligence lawsuit by a former client who claims the firm failed to advise of the tax consequences of demolishing a dwelling before selling a property in Melbourne's east for $5.4 million.

The tax office has won the appointment of special purpose liquidators to entities behind a number of Queensland construction projects, as it seeks to claw back a claimed $16 million debt.

The Full Court has rejected an appeal by the tax office over the classification of a redundancy payment, finding that an early learning centre worker who was offered reduced hours and pay as part of a restructure was made redundant.

The former CEO of Nudie Juice and his wife are fighting a court's ruling in favour of a liquidator's case making breach of duty claims in relation to an alleged tax fraud scheme.

A court has heard that the former CEO of juice company Nudie is "very unwell" and needs more time to file a defence in a case stemming from an alleged fraudulent tax scheme, a week after a judge tossed his summary dismissal bid in a related case.

The owners of two trusts that manage properties in Melbourne’s south-eastern and western suburbs have won a land tax refund after a court found Victoria's revenue office should have assessed the holdings separately.

Two units of Queensland real estate firm Coronis have lost a fight with the tax office over service fee deductions claimed for payments to related entities for the use of the Coronis trade mark, among other trust assets.