12 Nov 2020 Cases
The AAT has upheld the ASIC decision to ban a Perth financial adviser for five years for failing to meet the best interest obligations when providing advice in relation to self-managed superannuation funds (SMSFs).
The Full Federal Court has found that the freight allowance aspect of an agreement between Swiss-based Glencore International AG (Glencore) and its Australian subsidiary for the 2009 year was in breach of the transfer pricing rules under former Div 13 of the ITAA 1936 and Subdiv 815-A of the ITAA 1997.
The Full Federal Court dismissed the ATO's appeal against a decision that the Swiss parent company to an Australian subsidiary for copper concentrate was within an arm's length range for transfer pricing purposes.
The Full Federal Court upheld Davies J's decision in Glencore Investment Pty Ltd v FCT  FCA 1432, that the prices paid by GIAG to CMPL under the February 2007 agreement, including the 23% price sharing rate, were within an arm's length range.