Critically discuss the decision of the court in Federal Commissioner of Taxation v AXA Asia Pacific Holdings Ltd [2010] FCAFC 134 by considering the above extract from the decision of Dowsett J.

Assignment Question – Term 1 of 2020

Question One

“In my view there was an identity of interest in the transaction, as between AXA and Macquarie Bank, which was not simply that of vendor and purchaser. Macquarie Bank had, in effect, undertaken to assist AXA to dispose of AXA Health in a way which would minimise AXA’s capital gains tax exposure. They were to have an ongoing relationship with respect to any short-term profit on resale. Their relationship was not at arms length. Their dealings reflected that fact.”

Required:

Critically discuss the decision of the court in Federal Commissioner of Taxation v AXA Asia Pacific Holdings Ltd [2010] FCAFC 134 by considering the above extract from the decision of Dowsett J.

 

Students shall use the discussion boards on Blackboard to respond to prompts, ask questions, expand on material, or share relevant political news. Participation points will be earned through the quality (not the quantity) of the posts.

 

 

 

 

Answer these questions by own words, each one 100-200 words

 

  1. What kinds of factors influence legislative behavior from members of Congress?
  2. Are you Jeffersonian in that you believe congressional rules should maintain regularity and uniformity in lawmaking? Why or why not?

 

 

 

 

 

 

 

 

 

Question Two

S 110-45(1B) of the ITAA 97 reads as follows: “Expenditure does not form part of the second or third element of the cost base to the extent that you have deducted or can deduct it.”

Required:

Critically discuss the practical application of the above provision, with specific reference to the meaning of the words “you have deducted or can deduct it”.

 

The End

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