Part IVA roulette, anyone?
13 Oct 05 |
CCH TAX WEEK
Issue: Issue 39 13 October 2005
Pages: pp. 1-4
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).
This item is not available for download from this website. Please contact the Tax Institute library for assistance. Charges will apply.
Mark is Senior Lecturer, School of Law, University of Canberra.
- Current at
17 August 2005