Tag Archives: income tax assessment

Talking Tax – Issue 78

Case law

Change in capacity held to be a change in beneficial ownership

On 12 May 2017 in Rakmy Pty Ltd v Commissioner of State Revenue [2017] VSC 237, the Victorian Supreme Court held that a change in beneficial ownership of dutiable property had occurred where there was a change in the capacity in which the taxpayer held the land.

The taxpayer had initially held land as trustee for a unit trust. The unit holders of the unit trust then passed a special resolution, vesting the land in a superannuation fund, of which the taxpayer was trustee. The main issue in the case was whether there was a ‘change in beneficial ownership of dutiable property’ within the meaning of sub-sections 7(1)(b)(vi) and 7(4) of the Duties Act 2000 (Vic) (Act), despite the land being held by the same legal entity.

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Talking Tax – Issue 75

Case law

Full Federal Court dismisses Chevron transfer pricing appeal

On 21 April 2017 the Full Federal Court case of Chevron Australia Holdings Pty Ltd v Commissioner of Taxation [2017] FCAFC 62 unanimously dismissed Chevron Australia Holdings Pty Ltd’s (CAHPL) appeal against the decision of the Federal Court. The Federal Court decision was previously discussed in Talking Tax – Issue 12.

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