The decision concerned the application of the general anti-avoidance provisions of Part IVA ITAA 1936 to increase the net capital gain returned as a result of a public float.
The Full Federal Court found that the primary judge was correct in concluding that there was no tax benefit in connection with the primary scheme or the alternative scheme within section 177C(1)(a) ITAA 1936.
The Decision Impact Statement states:
"...the case turned on the weight to be given to the evidence, and as such does not appear to have significant implications for other cases."
The Decision Impact Statement also states:
"The ATO will update PS LA 2005/24: Application of General Anti-Avoidance Rules."