Futuris Corporation Limited (ACN 004 336 636) v Commissioner of Taxation [2009] FCA 600

FEDERAL COURT OF AUSTRALIA

Futuris Corporation Limited (ACN 004 336 636) v Commissioner of Taxation [2009] FCA 600

TAXATION - objection to assessment under Part IVA of the Income Tax Assessment Act 1936 (Cth) – assessment made that applicant obtained a tax benefit in connection with a scheme within s 177C(1) of Part IVA – "tax benefit" obtained in connection with a scheme defined as amount not being included in assessable income of taxpayer where that amount would have been or might reasonably be expected to have been included if the scheme had not been entered into or carried out – application for further and better particulars of events and transactions Commissioner alleges would have occurred or might reasonably be expected to have occurred had the relevant scheme not been entered into or carried out – application refused Income Tax Assessment Act 1936 (Cth) s 177C Taxation Administration Act 1953 (Cth) s 14ZZO Futuris Corporation Limited (ACN 004 336 636) v Commissioner of Taxation [2006] FCA 1096 cited Federal Commissioner of Taxation v Peabody (1994) 181 CLR 359 referred to Federal Commissioner of Taxation v Hart (2004) 217 CLR 216 referred to Federal Commissioner of Taxation v Lenzo (2008) 167 FCR 255 followed Bailey v Federal Commissioner of Taxation (1977) 136 CLR 214 referred to Tomlinson v Federal Commissioner of Taxation (1974) 23 FLR 314 cited Commissioner of Taxation v Futuris Corporation Limited [2008] HCA 32 cited Dare v Pulham (1982) 148 CLR 658 cited Lenzo v Commissioner of Taxation [2008] HCATrans 371 cited FUTURIS CORPORATION LIMITED (ACN 004 336 636) v COMMISSIONER OF TAXATION

SAD 110 of 2005

MANSFIELD J

4 JUNE 2009

ADELAIDE IN THE FEDERAL COURT OF AUSTRALIA

SOUTH AUSTRALIA DISTRICT REGISTRY SAD 110 of 2005

BETWEEN: FUTURIS CORPORATION LIMITED (ACN 004 336 636)