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.
In a victory for the ATO, a judge has found that payments made by Schweppes to PepsiCo as part of a bottling and distribution agreement, which did not expressly provide for payment of a royalty for use of the company’s IP, were royalties and should be taxed accordingly.
The group that oversees accountants in Australia and New Zealand has slapped PricewaterhouseCoopers with a $50,000 fine over its tax leaks scandal.
Ernst & Young has won a temporary stay of a lawsuit by Billabong founder Gordon Merchant alleging the firm gave negligent advice on how to structure the 2015 sale of bio plastics manufacturer Plantic Technologies.
The High Court has declined to weigh in on a dispute between a retired law firm partner and the ATO over tax on $182,000 in goodwill payments the lawyer received upon exiting the firm’s partnership.
The practitioner accused in court of promoting tax exploitation schemes to clients was a former partner at EY who was terminated last year after allegedly disclosing $700,000 in unauthorised benefits, the consulting giant has confirmed.
Thomson Geer has snagged a Clayton Utz special counsel to bolster its tax practice.
PricewaterhouseCoopers’ former head of international tax Peter-John Collins has been banned by the corporate regulator from providing financial services for eight years.
A judge has rejected a bid by WA businessman and former Perth Glory owner Antony Sage to uncover external legal advice provided to the tax office in a dispute over an audit that went to the AAT, finding that reliance by the Tribunal on the material could endanger its independence.
Government should shift away from using large professional services firms for advisory work and retain barristers to help avoid conflicts, increase accountability and ensure value for money, the Victorian Bar has told an inquiry.