Tabcorp-owned Tatts Group has appealed a finding from the Commissioner of Taxation that it cannot deduct a $120 million lotto licence from it assessable income for the 2017 financial year.
Investors who entrusted their retirement savings to deceased fraudster Melissa Caddick may launch a class action against the auditors that signed off on financial statements for the funds.
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.
Fossil fuel giant Shell Australia has partially won a challenge to a tax office decision denying deductions claimed over an acquisition the increased the company’s stake in Woodside Energy’s Browse Basin gas exploration joint venture project.
The federal government has cut the budget for the Australian Securities and Investments Commission by $62.7 million in tandem with the regulator’s corporate registry being shifted to the ATO, but a legal expert told Lawyerly the cut could also signal a movement away from the “why not litigate” approach adopted in the wake of the banking royal commission.
Tabcorp-owned Tatts Group has launched legal proceedings against the Australian Taxation Office seeking to set aside an “excessive” decision barring over $393 million in tax deductions for 2013 when the company was master agent of SA Lotteries.
The High Court has granted special leave in a test case by the Australian Taxation Office concerning the effectiveness of disclaimers by trust beneficiaries giving up entitlements to trust income and any associated tax obligations.
The Australian Taxation Office has told a judge it would be prepared to “give comfort” to PricewaterhouseCoopers that it will not prosecute the accounting giant for tax offences relating to documents at the centre of a court battle over privilege.
Hannover Life Re of Australasia has launch a courtroom challenge to a decision by the Australian Taxation Office which rejected $12 million in input tax credits it claimed from overheads and a distribution agreement entered into with Real Insurance.
A long standing stoush over staff expenses between Bechtel and the Australian Taxation Office has made its way to the Federal Court, with the engineering and construction firm challenging a decision that funds spent flying workers out to the Curtis Island LNG site were not tax deductible.