The Federal Court (Kenny J) has held that, in working out the tax cost setting amount under the consolidation rules where a subsidiary leaves a consolidated group, liabilities of the leaving entity “at the leaving time” are determined by reference to liabilities “just before” the leaving entity ceases to be a subsidiary member (Handbury Holdings Pty Ltd v FCT [2008] FCA 1787).
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29 Sep 2010
Amending Bills reintroduced
Several amending Bills, including the Tax Laws Amendment (2010 Measures No 4) Bill 2010, were reintroduced into Federal ..
15 Sep 2010
Freezing orders continued
The Federal Court has continued freezing orders against five foreign corporations which had never filed tax returns in A..
31 Aug 2010
Penalty for recklessness
The Federal Court has allowed the Commissioner's appeal against a decision of the AAT and held that the taxpayer had fai.. |