Why News Corp’s Australian victory boosts confidence in claiming deductions

Joe Dalton

July 18 2012

In the News Limited ruling on Tuesday, Australia’s Federal Court ruled that currency exchange losses should not be limited only to the exchange of money, and this will give taxpayers confidence in claiming tax deductions for such losses in a broader range of circumstances.

Unlock this content.

The content you are trying to view is exclusive to our subscribers.

To unlock this content:

Take a Free Trial or Login

Topics

Joe Dalton

Joe Dalton worked at ITR between 2011 and 2013

more across site & shared bottom lb ros

More from across our site

Direct Tax

PwC Australia back in the fold for government work

Senator Richard Colbeck told ITR he was concerned by the decision to let PwC Australia tender for government contracts again after a scandal-induced ban

Tom Ravlic, August 25 2025

Direct Tax

A taxing week: Italy’s tax recruitment market is going gangbusters

Whether it be due to a fragmented advisory market or a rise in M&A, Italy’s frenetic hiring has not gone unnoticed by ITR’s Talent Tracker

Tom Baker, August 22 2025

Direct Tax

This week in tax: KPMG Sweden sells advisory arm to Azets

The deal gives Azets 14 new partners and boosts its Swedish revenues to over $100 million; in other news, Svalner Atlas launched in Copenhagen

Tom Baker, August 22 2025

Transfer Pricing

EXA to showcase advanced OTP solution at ITR’s TP US forum

The tax technology company will be providing a free demonstration of its OTP software and offering best practice advice on whether to ‘buy or build’ on September 8

Tom Baker, August 21 2025

Direct Tax

Turmoil in international tax: what should Indonesia do?

Johanes Glorinus Saragih of Indonesia’s Directorate General of Taxes outlines the nation’s delicate geopolitical situation, as it sits between a rock and a hard place with the US and pillar two

Johanes Glorinus Saragih, August 20 2025

Direct Tax

Learning to love tax acronyms with Wong & Partners’ Adeline Wong

The law firm’s head of tax, trade and wealth management likens tax legislation to a complex puzzle, recommends a sturdy coffee mug, and explains why acronyms make tax cool

August 20 2025

Transfer Pricing

Andersen makes US TP push with team hire

The global tax and accounting firm has appointed two experienced TP advisers from a New Jersey-based boutique

Tom Baker, August 19 2025

Direct Tax

Pillar two is revising global tax competition with a 15% minimum tax rate

A taxing week: Pillar two – noble idea, but flawed project so far

A lack of commitment from major jurisdictions and the associated compliance burden are obstacles facing the OECD initiative

Sam Sholli, August 15 2025

Direct Tax

Oslo, Norway - 24 September 2022: PricewaterhouseCoopers or PWC

This week in tax: Ex-PwC Australia partner banned over ‘false or misleading’ claims

Richard Gregg is no longer fit and proper to be a tax agent, said the TPB; in other news, MHA completed its acquisition of Baker Tilly South-East Europe

Sam Sholli, August 15 2025

Direct Tax

India’s Hyatt ruling: significance of economic substance in permanent establishment

Recent Indian case law emphasises the importance of economic substance over mere legal form in evaluating tax implications, say authors from Khaitan & Co

Sanjay Sanghvi, August 14 2025