Miscellaneous 2004

Q&A: Co-operatives and Non-profits denied application of mutuality principle

Source: Taxation In Australia Journal Article

Published Date: 1 Oct 2004

The recent Full Federal Court case of Coleambally Irrigation Mutual Co-operative Ltd v FCT brings into question the ability of co-operatives and other non-profits that have standard winding up clauses preventing distribution to members to utilise the mutuality principle to reduce their tax liability.
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Mark Payne

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Michael Parker CTA

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Jerome Tse CTA

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Miscellaneous 2004

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