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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, domestic income tax issues, including CGT and Div 7A, business sales, acquisitions and restructures and GST. Michael has extensive experience handling a broad range of taxpayer disputes, including 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 Div 7A, small business impediments and the small business CGT concessions. He is a regular presenter for The Tax Institute.
- Current at
31 October 2019
Jerome Tse CTA
Jerome Tse, CTA, is a Partner at King & Wood Mallesons, specialising in taxation disputes and litigation. Jerome is also the firm’s global transfer pricing coordinator. Jerome is an experienced tax practitioner and has been involved in a number of Australia’s recent high profile tax cases. He is the current Vice President of the Tax Institute.
- Current at
04 May 2021
