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.