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Part IVA roulette, anyone?

Publication date: 13 Oct 05 | Source: CCH TAX WEEK

Issue: Issue 39 13 October 2005

Pages: pp. 1-4

Abstract:

On 16 September 2005, the Full Federal Court handed down its decision in Macquarie Finance Limited v FC of T 2005 ATC 4829, on appeal from the decision of Hill J in Macquarie Finance Ltd v FC ov T 2004 ATC 4866. By differently constituted majorities, the full court held that:

  • the interest expense of $27,933,226 was not deductible under s 8-I of ITAA 1997 (French and Gyles JJ), and
  • Pt IVA would not have applied had the amount been deductible under s8-I (Hely and French JJ).

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Author profile

Dr Mark Burton
Mark is Senior Lecturer, School of Law, University of Canberra. - Current at 17 August 2005
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