The Resource Sons of Gwalia - a taxing decision

Sons of Gwalia - a taxing decision

Label
Sons of Gwalia - a taxing decision
Title
Sons of Gwalia - a taxing decision
Creator
Subject
Language
eng
Summary
This article considers the tax effects, particularly from a capital gains tax perspective, of the High Court decision Sons of Gwalia Ltd v Margaretic (2007) 81 ALJR 525; [2007] HCA 1. This case considered the possibility of a taxpayer suing a company for damages arising out of a breach of, inter alia, the duty of continuous disclosure under the Corporations Act 2001 (Cth). The article reviews the "look-through" approach of the Commissioner in TR 95/35 which includes consideration of the recoupment provisions of the Income Tax Assessment Act 1997 (Cth). The author concludes that (a) both the look-through approach and the recoupment provisions are not applicable in the instant case; and (b) that TR 95/35 should be withdrawn. In particular, the Commissioner should reconsider the look-through approach identified in TR 95/35 to ensure it complies with the provisions of the Income Tax Assessment Act 1997 (Cth.)
Citation source
In: Australian tax review. - Pyrmont. - Vol. 37 (2008),
http://library.link/vocab/creatorName
Datt, K
Language note
English
http://library.link/vocab/subjectName
  • case law
  • capital gains tax
  • LoB
Label
Sons of Gwalia - a taxing decision
Publication

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    • IBFD Library AmsterdamBorrow it
      Rietlandpark 301, Amsterdam, 1019 DW, NL
      52.37366609999999 4.9336932
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