A final determination has been issued which considers when income tax of a private company is a “present legal obligation” for the purposes of the distributable surplus calculation for the purposes of Div 7A ITAA 1936 under sec 109Y(2) (TD 2007/28).
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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.. |