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The McNeil havoc continues.

Publication date: 01 Aug 08 | Source: INTAX

Issue: August 2008

Pages: pp.1,22,23


The High Court decision in FCT v McNeil (2007) 64 ATR 431 created significant uncertainty about the tax treatment of rights and options issued by a company to its shareholders. The recently released "McNeil amendments" fall well short of solving the problem, other than in cases involving the issue of "plain vanilla call options" to shareholders.

A number of unresolved pitfalls are highlighted in this article. They affect both private and public companies and trusts.

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Author profiles

Alexis Kokkinos ATI
Photo of author, Alexis KOKKINOS Alexis is a Partner of the Tax Consulting group of Pitcher Partners and has over 19 years experience in advising corporate clients. Alexis was a member of the Board of Taxation review on the tax consolidation measures and was also a member of the Treasury review of MEC groups. - Current at 09 July 2015
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Natalie Wellard
Natalie is an Analyst, National Tax at Deloitte. - Current at 21 August 2008
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