Published on 01 Jul 07
by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE
In January 2007, the Full Federal Court heard an appeal from the decision of Keifel J in the Federal Court in the case of Raftland Pty Ltd v Commissioner of Taxation  FCAFC 4. The Federal Court had upheld an amended assessment issued by the Commissioner of Taxation to include $4.205 million in the assessable income of the taxpayer, after the Commissioner disallowed the taxpayer’s purported distributions of income to a unit trust with accumulated losses because it was a sham.
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