Published on 01 Sep 96
by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE
The first article explains the facts and discusses the decision on the ICI Australia case, which could mean that the ATO may have to amend tax ruling IT2495.
The second, although financial transactions are all about the time value of money, the courts continue to adhere to a face value approach. The most recent example4 is the Full Bench Court decision in Burrill v FCT.
And the third, examines the High Court's recent decision on the Commissioner's appeal in FCT v Energy Resources of Australia Ltd generally is favourable to taxpayers, it raises issues that may now need to be addressed.
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