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Q&A: Co-operatives and Non-profits denied application of mutuality principle
Published on 01 Oct 04 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE
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.
Author profiles
Michael Parker CTA
Michael Parker, CTA, is a Partner in the taxation section of Hall & Wilcox Lawyers. His practice focuses on tax disputes, capital gains tax, business sales and acquisitions and restructuring. Michael has extensive experience handling disputes concerning the Small Business CGT Concessions, having acted for the taxpayers in White v FCT [2009] FCA 880, White v FCT [2012] FCA 109 and Altnot v FCT [2013] AATA 140, among other cases. Michael regularly consults to the Board of Taxation and Treasury including in respect of the small business
CGT Concessions. He is a regular presenter for The Tax Institute.
- Current at
20 June 2014
Jerome Tse CTA
Jerome Tse, CTA, is a Partner at King & Wood Mallesons, specialising in taxation disputes and litigation. Jerome advises corporate taxpayers on all aspects of Australian tax disputes from the audit and independent review stage through to High Court litigation. He also guides clients through alternative dispute resolution processes, advance pricing agreements and mutual agreement procedures.
- Current at
22 May 2017
