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14 Jan 099 No power to extend consolidation choice - McIntosh

The Federal Court (Graham J) has held that the general power to defer the time within which an approved form is required to be given to the Commissioner, contained in s 388-55(1) of Schedule 1 to the Taxation Administration Act 1953, has no application to the period described in s 703-50(3) of ITAA 1997, which requires a taxpayer to make a choice to consolidate (broadly) no later than the date on which it lodges its first return after the date specified in the choice. The Court held that the legislature did not intend that the clearly defined "period for giving the choice to the Commissioner" in s 703-50(3) could be extended by the exercise of such a general power: M W McIntosh Pty Ltd v FCT [2008] FCA 1949 (Federal Court, Graham J, 19 December 2008).

For a copy of the decision, go here.

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