AXA Asia Pacific Holdings v Comm. of Taxation
This movie is a summary of the Federal Court decision of Justice Jessup in the tax case AXA Asia Pacific Holdings Ltd v Commissioner of Taxation [2009] FCA 1427. The decision was handed down on 4 December 2009.
The case deals with two main issues. These are:
- Whether two parties who are at arm's length are dealing with each other at arm's length.
- Whether Part IVA applied to the transactions and, particularly, whether the counterfactuals proposed by the Commissioner were reasonable.
AXA Asia Pacific Holdings Ltd used the scrip-for-scrip roll-over provisions of the Australian Capital Gains Tax law to sell a subsidiary. The Commissioner asserted that the roll-over was not effective.
[9 minutes 41 seconds] [Animated] [73.8 MB]
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