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The High Court has declined Tabcorp's special leave application seeking to overturn a ruling that found it was not entitled to a $1.49 billion tax deduction for loss when a licence with the state of Victoria expired in 2012.
Construction PRO
A court has weighed in on the tax treatment of the proceeds of developed land, finding the landowner did not engage in business-like conduct such that his profits should be considered income.
The Tax Office has asked the High Court to reverse a 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.
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.
The High Court has denied the ATO's request that it weigh in on Australia's transfer pricing regime, leaving in place a Full Court victory for mining giant Glencore that left it paying $2 million of a $92 million bill relating to the sale of copper from a mine in Cobar, NSW.
Health care giant Healius has lost its application to the High Court to challenge a $60 million win for the Australian Taxation Office.
The Australian Taxation Office has been blocked from indirectly recouping GST lost in a major tax scam by allegedly crooked gold traders with the Full Federal Court finding a $208 million demand sent to a defunct gold refiner had incorrectly interpreted the GST Act.
The Australian Taxation Office has secured a Full Federal Court victory in its $60 million tax battle with Healius, overturning a ruling that found the healthcare company could claw back a multi-million dollar tax refund.
Maurice Blackburn has lost a long-running fight with the Australian Taxation Office over a tax bill on two massive class action settlements secured by the firm for thousands of Black Saturday bushfire victims.