Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
RCI Pty Limited v Commissioner of Taxation [2011] FCAFC 104 Citation: RCI Pty Limited v Commissioner of Taxation [2011] FCAFC 104
Appeal from: RCI Pty Ltd v Commissioner of Taxation [2010] FCA 939
Parties: RCI PTY LIMITED (ACN 008 408 848) v COMMISSIONER OF TAXATION
File number: NSD 1225 of 2010
Judges: EDMONDS, GILMOUR AND LOGAN JJ
Date of judgment: 22 August 2011
Corrigendum: 24 August 2011
Catchwords: INCOME TAX – Part IVA of Income Tax Assessment Act 1936 (Cth) – scheme involving payment of exempt dividend prior to transfer of shares giving rise to assessable capital gain as part of an international corporate reorganisation – the task of determining whether a taxpayer has obtained a tax benefit in connection with a scheme – whether s 177C is a 'gateway' provision that is satisfied if the Commissioner's counterfactual is reasonable or a forensic exercise that requires an objective determination of what the taxpayer might reasonably be expected to have done absent the scheme. Held: No tax benefit obtained in connection with scheme.
Legislation: Income Tax Assessment Act 1936 (Cth) ss 177A, 177C, 177D, 177E, 177F Income Tax Assessment Act 1997 (Cth) s 102-5 Taxation Administration Act 1953 (Cth) s 14ZZO
Cases cited: Commercial Union Assurance Company of Australia Ltd v Ferrcom Pty Ltd (1991) 22 NSWLR 389 cited Commissioner of Taxation v Consolidated Press Holdings Ltd (2001) 207 CLR 235 considered Commissioner of Taxation v Hart (2004) 217 CLR 216 considered Commissioner of Taxation v News Australia Holdings Pty Ltd [2010] FCAFC 78 applied Commissioner of Taxation v Peabody (1994) 181 CLR 359 Federal Commissioner of Taxation v Ashwick (Qld) No 127 Pty Ltd [2011] FCAFC 49 considered Federal Commissioner of Taxation v AXA Asia Pacific Holdings Ltd (2010) 189 FCR 204 applied Federal Commissioner of Taxation v Trail Bros Steel & Plastics Pty Ltd (2010) 186 FCR 410 applied Futuris Corporation Limited v Commissioner of Taxation 2010 ATC 20-206 applied Jones v Dunkel (1959) 101 CLR 298 cited McCutcheon v Federal Commissioner of Taxation (2008) 168 FCR 149 applied
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