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Valuation principles: Where do taxpayers stand? presentation

Published on 11 Sep 14 by NEW SOUTH WALES DIVISION, THE TAX INSTITUTE

This presentation covers:

  • a number of provisions of the taxation laws rely on the concept of “market value”
  •  “market value” is not generally well defined
  • test in Spencer v Commonwealth:
    • value which would be agreed between a knowledgeable, willing but not anxious buyer and seller acting at arm’s length
    • “highest and best use”
  • area for dispute remains
  • RCF: regard must be had to the relevant statutory context.

Author profile

Sarah Dunn FTI
Sarah Dunn leads KPMG Law’s Sydney Tax Dispute Resolution and Controversy practice. Sarah joined KPMG Law in 2013 after having been a Litigation Partner at Freehills for approximately 12 years. Sarah has extensive experience in dealing with revenue authorities and advising clients across a broad range of industries at all stages of tax disputes including audits and risk reviews, through to alternative dispute resolution and contested proceedings in the Supreme Court, Federal Court and the AAT. Sarah has enjoyed considerable success in resolving a large number of significant and complex revenue disputes without the need for litigation, including Transfer Pricing and Part IVA matters. - Current at 29 January 2018

 

This was presented at Corporate Tax Masterclass .

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