Miscellaneous 2004

Tax Case: Our mutual friend gives clubs and cooperatives a dickens of a hiding

Source: Taxation In Australia Journal Article

Published Date: 1 Apr 2004

 
Just as in Charles Dickens' last major work, entitled Our Mutual Friend, where a difficult marriage is required to obtain a fortune, the mutuality principle requires a 'marriage' between the participants and the contributors before it can be applied. In the case of Coleambally Irrigation Mutual Co-operative Ltd v Commissioner of Taxation [2004] FCA 2 (6 February), that 'marriage' of participants to contributors proved too difficult for Hill J to find.
Author Profile
Daniel Sydes

Author Profile
Richard J Vann CTA

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