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Tax Case: Our mutual friend gives clubs and cooperatives a dickens of a hiding


Just as in Charles Dickens' last major work, entitled Our Mutual Friend, where a difficult marriage is required to obtain a fortune, the mutuality principle requires a 'marriage' between the participants and the contributors before it can be applied. In the case of Coleambally Irrigation Mutual Co-operative Ltd v Commissioner of Taxation [2004] FCA 2 (6 February), that 'marriage' of participants to contributors proved too difficult for Hill J to find.

Author profiles

Prof Richard Vann CTA
Richard is Challis Professor of Law at the University of Sydney and has taught at Harvard and NYU Law Schools and the Universities of Amsterdam, London and Oxford. Richard has worked in the past at the IMF and OECD and held many Government consultancies in Australia and elsewhere. He has been a consultant for specialist tax firm Greenwoods & Herbert Smith Freehills since 1985. Richard specialises in corporate and international taxation on which he has published widely both in Australia and internationally. - Current at 15 June 2022
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Daniel Sydes ATI
Daniel is a Director at Greenwoods & Herbert Smith Freehills Pty Limited, with over 15 years of tax adviser experience. Daniel advises on a wide range of corporate tax issues, particularly within the property construction and development, property funds management, and media sectors. One of Daniel's key areas of expertise is the MIT, AMIT and clean building MIT regimes, and the various issues that arise in property development transactions. - Current at 22 November 2017
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