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Part IVA and consolidated groups: Grazing on uncertainty

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Published on 01 Sep 15 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

The decision of the Full Court of the Federal Court in Channel Pastoral Holdings Pty Ltd v FCT was the second of two decisions which have considered the interaction of Pt IVA (the general anti-avoidance provision) of the Income Tax Assessment Act 1936 and the tax consolidation regime (the first was FCT v Macquarie Bank Ltd). In Channel Pastoral, the court held that Pt IVA could apply to a scheme or an arrangement involving the formation of a tax consolidated group, and that the correct entity to which to issue a determination and corresponding assessment (or amended assessment) is the group member which would have derived the tax benefit had the consolidated group not been formed.

This article examines the case in detail, outlines a number of implications, and argues that there is still confusion as to who should be the subject of a determination and an assessment in these situations.

Author profiles

Clinton Harding CTA
Clint is a partner at Arnold Bloch Leibler and leads the Sydney taxation practice. Clint advises across most taxes, with particular expertise in corporate and international tax, the taxation of financial instruments and transactions, and the management of tax audits and disputes with the ATO. Clint is the author of numerous tax articles, a regular presenter, and is currently a working member of The Tax Institute’s Large Business and International Committee. In 2018, Clint won The Tax Institute’s Corporate Tax Adviser of the Year Award and is the National Chair of the Law Council of Australia’s Taxation Committee. - Current at 27 August 2020
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Peter Scott FTI
Peter is a Senior Associate in Arnold Bloch Leibler’s taxation group. He provides strategic and technical tax advice to a diverse range of Australian and international clients, public corporations, private groups, and high-net-worth individuals. Peter advises across most areas of tax with a particular focus on corporate and international tax, deals, employee share schemes, trusts and tax controversy matters. Peter is a member of the Tax Institute NSW Emerging Leaders Subcommittee and was a 2019 Tax Institute Awards finalist in the Emerging Tax Star category. - Current at 22 October 2019

 

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