NR Allsopp Holdings Pty Ltd as General Partner of Q Uniform Partnership v Commissioner of Taxation [2016] FCAFC 87

FEDERAL COURT OF AUSTRALIA

NR Allsopp Holdings Pty Ltd as General Partner of Q Uniform Partnership v Commissioner of Taxation [2016] FCAFC 87 Appeal from: NR Allsopp Holdings Pty Ltd as General Partner of Q Uniform Partnership and Commission of Taxation (Taxation) [2015] AATA 654

File number: QUD 895 of 2015

Judges: LOGAN, GRIFFITHS AND PAGONE JJ

Date of judgment: 22 June 2016

Catchwords: PARTNERSHIP – limited partnership – certificate of registration of limited partnership – whether certificate conclusive evidence of formation of limited partnership – whether necessary for partnership to exist before registration – general law partnership TAXATION – dividends – franking credits – debt and equity interests – whether debt interest or equity interest – whether financial benefit provided under scheme – whether effectively non-contingent obligation under scheme to provide financial benefit TAXATION – administrative penalty – whether position of taxpayer reasonably arguable – whether it would be concluded that what is argued for is about as likely as not correct

Date of hearing: 11 February 2016

Registry: Queensland

Division: General Division

National Practice Area: Taxation

Category: Catchwords

Number of paragraphs: 3

Counsel for the Appellants: Mr K Wilson QC with Mr A Anderson

Counsel for the Respondent: Ms K Mellifont QC with Mr M Ballans

Solicitor for the Appellants: Cleary Hoare Solicitors

Solicitor for the Respondent: Australian Government Solicitor

Table of Corrections

5 July 2016 On the cover page, the appearance for the respondent has been corrected.