Federal Court of Australia
Federal Court of Australia
Singapore Telecom Australia Investments Pty Ltd v Commissioner of Taxation [2024] FCAFC 29 Appeal from: Singapore Telecom Australia Investments Pty Ltd v Commissioner of Taxation [2021] FCA 1597; and Singapore Telecom Australia Investments Pty Ltd v Commissioner of Taxation (No 2) [2022] FCA 260
File number: VID 198 of 2022
Judgment of: WIGNEY, BANKS-SMITH AND COLVIN JJ
Date of judgment: 8 March 2024
Catchwords: TAXATION - cross-border transfer pricing and arm's length consideration provisions - whether primary judge erred in formulating the reliable hypothesis required to apply Subdivision 815-A of the Income Tax Assessment Act 1997 (Cth) and Division 13 of the Income Tax Assessment Act 1936 (Cth) - whether primary judge erred in finding that moving to a fixed base interest rate for the last three years of the loan term was not commercially justified - whether primary judge erred in finding that the capitalisation of interest should be on an annual basis - whether primary judge erred in concluding that loan amendment was irrational - whether primary judge erred in his conclusion as to the legal effect of determinations made by the Commissioner - whether primary judge erred in failing to consider losses arising before the relevant assessment years - matters raised by notice of contention did not arise - appeal dismissed
Legislation: Income Tax Assessment Act 1936 (Cth) ss 177D, 177F, 136AA, 136AD, 136AF, Division 13 Income Tax Assessment Act 1997 (Cth) ss 815-5, 815-10, 815-15, 815-30, 815-35, Subdivision 815-A, Divisions 815B-815D
Cases cited: Bosanac v Commissioner of Taxation [2019] FCAFC 116; (2019) 267 FCR 169 Channel Pastoral Holdings Pty Ltd v Commissioner of Taxation [2015] FCAFC 57; (2015) 232 FCR 162 Chevron Australia Holdings Pty Ltd v Commissioner of Taxation [2017] FCAFC 62; (2017) 251 FCR 40 Commissioner of Taxation v Glencore Investment Pty Ltd [2020] FCAFC 187; (2020) 281 FCR 219 Commissioner of Taxation v Hart [2004] HCA 26; (2004) 217 CLR 216 Commissioner of Taxation v SNF (Australia) Pty Ltd [2011] FCAFC 74; (2011) 193 FCR 149 SNF (Australia) Pty Ltd v Commissioner of Taxation [2010] FCA 635 WR Carpenter Holdings Pty Ltd v Commissioner of Taxation [2008] HCA 33; (2008) 237 CLR 198 Zappia v Commissioner of Taxation [2017] FCAFC 185
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