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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.

Author profiles

Prof Richard Vann CTA
Prof Richard Vann, CTA, is Challis Professor of Law at the University of Sydney and a Consultant at Greenwoods & Herbert Smith Freehills. He has also taught at NYU Law School, Harvard Law School and the University of London. He has held many government consultancies in Australia, including the Review of Business Taxation (1998 - 1999), the Review of International Taxation (2002 - 2003) and the Australian Taxation Office Public Rulings Panels on international and indirect taxation (1995-2007). Most recently, he has been involved in various Board of Taxation work on managed investment trusts and collective investment vehicles, the attribution of profits to permanent establishments and as a member of Treasury’s BEPS Advisory Group. Richard is the Editor-in-Chief of the IBFD Global Tax Treaties Commentaries now being progressively published. - Current at 14 July 2017
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Daniel Sydes ATI
Daniel is a Director at Greenwoods & Herbert Smith Freehills Pty Limited, with over 15 years of tax adviser experience. Daniel advises on a wide range of corporate tax issues, particularly within the property construction and development, property funds management, and media sectors. One of Daniel's key areas of expertise is the MIT, AMIT and clean building MIT regimes, and the various issues that arise in property development transactions. - Current at 22 November 2017
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