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Tax Case: Our mutual friend gives clubs and cooperatives a dickens of a hiding

Published on 01 Apr 04 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

Just as in Charles Dickens' last major work, entitled Our Mutual Friend, where a difficult marriage is required to obtain a fortune, the mutuality principle requires a 'marriage' between the participants and the contributors before it can be applied. In the case of Coleambally Irrigation Mutual Co-operative Ltd v Commissioner of Taxation [2004] FCA 2 (6 February), that 'marriage' of participants to contributors proved too difficult for Hill J to find.

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Richard J VANN

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Daniel SYDES

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