The recent McNeil decision of the High Court directly focussed attention on tax aspects associated with a range of corporate capital management strategies. In addition, there have also been a number of other important recent judicial developments of relevance to corporate distributions and shareholders. This presentation highlights the potential practical relevance of these developments including:
- Sun Alliance & Condell in the context of what constitute 'profits'
- Lend Lease addresses ownership and derivation of dividend aspects (including CGT interactions)
- Indofood International (UK) considers ownership of dividends for treaty purposes
- McNeil of course is critical in that it focuses on whether a right provided to shareholders is income.