Tax Bites: Insights on tax developments Herbert Smith Freehills

In this episode of the Herbert Smith Freehills Tax Bites podcast, Toby Eggleston partners with Consulting Professor Graham Cooper and fellow partner Ryan Leslie to dive deep into recent Federal Court decisions on the anti-avoidance provisions in Part IVA of the Income Tax Assessment Act 1936. The discussion begins with insights into the Minerva Financial Group vs. Commissioner of Taxation, highlighting the saga of restructuring for an IPO and the accompanying tax implications. Also explored is the Mylan Australia Holdings case involving a debt push down strategy and the ATO’s application of Part IVA. The episode touches on pivotal aspects such as the significance of counterfactual scenarios, determination of tax benefits, and the overarching question of dominant purpose in context to Part IVA. The conversation also delves into the potential implications of the 2012 amendments compared to the pre-amendment rulings and foreshadows the impact of recent budget announcements on future tax avoidance disputes.

00:00 Welcome to the Tax Bites Podcast
00:32 Deep Dive into Part IVA Decisions: Minerva Financial Group Case
14:04 Exploring the Mylan Australia Holdings Case: A Debt Push Down Analysis
30:01 Impact of 2012 and 2023 Part IVA Amendments on Tax Law
40:33 Final Thoughts and Future Directions in Tax Law

Want to go deeper? Read our tax notes on the cases

Minerva Financial Group Pty Ltd v Commissioner of Taxation
Mylan Australia v Commissioner of Taxation: The Commissioner loses again on Part IVA

In this episode associate Mark Peters and partner Toby Eggleston discuss the potentially huge changes to the stamp duty regime in Victoria for commercial property. While it initially sounds straightforward, there are a number of nuances and potential issues for future transactions.

More details can be found in our tax insights.

In this episode associate Geraldine Chan and partner Ryan Leslie join Toby Eggleston to discuss the main takeaways of the Commissioner’s win in the PepsiCo case.
 
More details can be found in our tax insights blog.

In this episode new partner James Pettigrew and Professor Graeme Cooper joins Toby Eggleston to discuss the proposed debt creation regime, dropped into the thin capitalisation bill at the last minute.

More details can be found in our tax insights here. 

In this episode stamp duty specialists Jinny Chaimungkalanont and Dan Miles educate income tax partner Toby Eggleston on the latest developments in Australian state taxes. Topics include the Victorian State budget, NSW changes to landholder duty for listed entity takeovers (look out!), NT and WA updates and rounding it out with a summary of 3 important cases handed down in May. 

More details can be found in our tax insights:
2023-24 Budget Update: Key changes to Australian state taxes (23 May) Duties Alert: Reform to NSW Landholder Duty for Listed Landholders and Widely Held TrustsDecision Alert: NSW Court of Appeal overturns decision that power generation assets were not “goods” for the purposes of landholder duty2023-24 Budget Update: Key changes to Australian state taxes (9 May)

In this episode partners Toby Eggleston, Ryan Leslie and Nick Heggart and consulting Professor Graeme Cooper breakdown the Australian Federal budget and the implications for large taxpayers. Topics include proposed changes to Part IVA, build to rent incentives, Pillar 2 update and a special section for the mining sector. All you need in 26 minutes!

More details can be found in our tax insight: https://hsfnotes.com/taxaustralia/2023/05/09/tax-insight-tax-measures-in-australias-2023-24-budget/