Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Cable & Wireless Australia & Pacific Holding BV (in liquidatie) v Commissioner of Taxation [2017] FCAFC 71 Appeal from: Cable & Wireless Australia & Pacific Holding BV (in liquidation) v Commissioner of Taxation [2016] FCA 78
File number: NSD 318 of 2016
Judges: ALLSOP CJ, MIDDLETON AND BEACH JJ
Date of judgment: 1 May 2017
Catchwords: TAXATION – share buy-back – dividend withholding tax payable by non-resident – part of off-market purchase price deemed to be dividend – part of purchase price debited against amounts standing to the credit of the share capital account of the company is not dividend – application for refund of withholding tax claimed to have been paid in error – share capital account – buy-back reserve account – whether record of transaction into which company had entered in relation to share capital – whether record of financial position of the company in relation to its share capital – substance and form of share buy-back transaction – appeal dismissed
Legislation: Corporations Act 2001 (Cth) ss 256A-258F Income Tax Assessment Act 1936 (Cth) ss 6, 6D, 128B, 128C, 159GZZZP Taxation Administration Act 1953 (Cth) ss 12-210, 18-70 of Schedule 1
Cases cited: Archibald Howie Pty Ltd v Commissioner of Stamp Duties (NSW) (1948) 77 CLR 143 Commissioner of Taxation v Consolidated Media Holdings Limited (2012) 250 CLR 503 Re Westburgh Sugar Refineries Ltd [1951] AC 625
Date of hearing: 21 November 2016
Registry: New South Wales
Division: General Division
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