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BHPB Finance Limited, the Commissioner of Taxation and a perverse view

Published on 01 Jun 10 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

The Commissioner's argument to lift the corporate veil to treat a holding company as carrying on the business conducted by its subsidiary is dismissed as perverse. The tests for determining when an entity is carrying on a business of lending money is confirmed and the relevance of letters of comfort to an assessment of whether a debt is bad is considered. Division 243 and whether debt is non-recourse are also discussed.

Author profiles:

Sue WILLIAMSON
Current at 04 May 2011 Click here to expand/collapse more articles by Sue WILLIAMSON.
 
Ann-Maree VENTURA
Current at 09 June 2010

 

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