News

Commissioner of Taxation v Bosanac (No.7) – [2021] FCA 249, Presumption of advancement applicable to matrimonial home? Rebutted? – Does Cummins (2006) 227 CLR 278 qualify presumption?

The recent decision of Commissioner of Taxation v Bosanac (No.7) [2021] FCA 249 revisits the ‘presumption’ of advancement in a situation where both spouses contributed equally to the purchase of the matrimonial home through joint loans but the property’s title was placed in the wife’s name only.

Commissioner of Taxation v Lane [2020] FCAFC 184 – Application of priority regime (ss108 and 109 Bankruptcy Act) to distribution of sale of assets of trust – payments to trust creditors – preference recovery proceeds non-trust assets?

The recent full Federal Court decision of Commissioner of Taxation v Lane [2020] FCAFC 184 revisits the issue of the right of exoneration of a trustee from trust assets for liabilities incurred for the trust and the distribution of any amounts recovered. This case dealt with a trustee which carried on a business through a trust structure and non-trust related activities.

PROGRESS IN BUSINESS INTERUPTION INSURANCE TEST CASES

In our recent article ‘Test Cases to Decide Insurance Liability in Backdrop of Covid-19’, we discussed the test cases initiated before the Australian Courts regarding the liability of Business Interruption (BI) insurance providers in light of COVID.

We can now report some further developments.

The recent decision of Barre v Barre [2021] FamCA 101 explores the complicating effect bankruptcy may on Family Court proceedings in the context of enforcing a Binding Financial Agreement

The recent decision of Barre v Barre [2021] FamCA 101 explores the complicating effect bankruptcy may have on otherwise on Family Court proceedings in the context of enforcing a Binding Financial Agreement.