The High Court has agreed to hear the ATO’s bid to reverse 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. The Tax Office won special leave from the High Court on Thursday, as it seeks…
Australian Tax Office whistleblower Richard Boyle has pleaded guilty to four charges connected to disclosures he made against his employer, but will avoid jail.
A former EY partner who is in court over an alleged tax exploitation scheme has been banned for five years by the Tax Practitioner’s Board, which claims he engaged in “serious, deliberate and dishonest” misconduct.
Lendlease has told a court that documents relied on by an ex-Greenwoods and Herbert Smith Freehills partner in his case contain privileged legal advice and without prejudice communications with the Australian Tax Office.
Collapsed Sydney developer Dyldam has denied wrongdoing in a lawsuit alleging members of the Fayad family used $74 million in sale proceeds for personal benefit and sought to conceal that fact from business partners.
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.
Maxcon Developments, which allegedly owes $23 million in unpaid tax, has lost its bid to stay orders winding up the business, with a judge deeming the company “hopelessly insolvent”.
An ex-EY partner accused of pocketing $700,000 in commissions in a tax loss scheme wants to vindicate his reputation at trial but is weighing whether to keep his silence, a court has heard.
Dentons has nabbed former Hamilton Locke tax disputes partner Damien Bourke, who wants to build up the team aggressively and nominated ATO understaffing as a pressing issue.
A collectable car dealer who operated his Gosford business using a ‘museum concept’ has won a High Court victory in a dispute with the ATO over whether he should be on the hook for luxury car tax.