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.

UNFAIR PREFERENCE CLAIMS AND THE OUSTING OF THE ‘PEAK INDEBTEDNESS’ RULE

Creditors faced with an unfair preference claim under the Corporations Act 2001 (Cth) (Act) will often try to show that its relationship with the company in question involved a running account, thereby bringing into play the defence in section 588FA(3)(c) of the Act.

Evidence vs Inference: Analysis of Ross, in the matter of Print Mail Logistics (International) Pty Ltd (in liq) v Elias [2021] FCA 419

Proving your case in court requires the leading of evidence and the making of submissions about how a court should interpret that evidence. Liquidators are often in a position where they are unable or would not wish to call a particular evidence who in the ordinary case would be the best person to give evidence necessary to prove an element of a case.

Refunds rising from the ashes: illegal phoenix activities provide basis for discretion to retain tax refunds (ATO Practice Statement 2021/2)

11 Jun 2021

On 22 April 2021, the Australian Taxation Office (ATO) released Practice Statement 2021/2. This statement, entitled “The ATO’s administrative approach to the extension of the Commissioner’s discretion to retain tax refunds” (Practice Statement), provided an explanation of when the Commissioner of Taxation (Commissioner) can retain taxpayer refunds.