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Full Federal Court’s tax decision in Resource Capital Fund

Earlier today the Full Federal Court delivered judgment in the Commissioner’s favour in Commissioner of Taxation v Resource Capital Fund IV & VLLP.

The decision of the 5-member bench (comprising Justices Besanko, Middleton, Davies, Steward and Thawley) resolves several important outstanding issues for taxation administration generally and also taxing of disposals of interests in mining entities arising under Australia’s Double Tax Treaties and the “TARP” provisions in Division 855 of the Income Tax Assessment Act 1997 (Cth).

Chris Peadon of New Chambers was a member of the Commissioner’s successful 3-counsel team led by Mark Richmond SC and instructed by Minter Ellison.

Chris advises both taxpayers and the Commissioner in a number of cases concerning taxing of foreign investors involving the application of double tax treaties, the TARP provisions, and transfer pricing. He is identified by Chambers & Partners, the International Tax Review and other review publications as a leading member of Australia’s junior tax bar.

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