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Full Federal Court on liquidator's tax liabilities

Publication date: 03 Dec 14 | Source: CCH TAX WEEK

Issue: Issue 47, 28 Nov 2014

Pages: pp 1-3

Abstract:

On 8 October 2014, the long-awaited appeal decision of the Full Federal Court in Australian Buildings Systems Pty Ltd (in liq) & Ors v FC of T 2014 ATC 20-468 confirmed that receivers and liquidators are not personally liable for post-appointment tax payable from funds received by them in the absence of a tax assessment. In fact, the majority decision goes on further than this and places a question mark over whether liquidators can ever be personally liable for a post-appointment tax liability. The decision will require the ATO to rethink Draft Taxation Determination TD 2012/D6 and TD 2012/D7.

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Author profile

Anna Wilson FTI
Anna Wilson, FTI, of the Victorian Bar, specialises in tax and commercial law. She acts for the Commissioner and the taxpayer in both state and federal jurisdictions. Her practice extends from tax and structuring advice, tax investigations and audits, private rulings and objections, through to tax litigation and alternative dispute resolution. Anna is also developing a practice in tax and white-collar crime. Anna has extensive experience as a tax and commercial specialist in large law firms having worked for over 10 years with Norton Rose Fulbright, including 15 months in Munich, Germany and two years with Gadens in Melbourne. She commenced her legal career working mainly in property law before concentrating on tax from 2008. Anna obtained her law and science degrees (majoring in mathematics and physics) from Monash University and has a Masters of Taxation Law from Melbourne University, where she was awarded the Graham Hill Taxation Law prize. Anna has a special interest in residency for tax purposes, employee share schemes, self-managed superannuation funds, limited recourse and other borrowing arrangements involving SMSFs, insolvency and bankruptcy, estate and succession planning, trusts, charitable structures, income-tax exempt and deductible gift recipient endorsements as well as state taxes, particularly stamp duty and land tax. Anna is fluent in German and is accredited as a professional translator from German into English. - Current at 24 October 2017
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