Stewart Grieve, a partner of Corrs Chambers Westgarth in Melbourne, explains why the Federal Court of Australia’s ruling in the SPI PowerNet case highlights the uncertainty taxpayers face when applying the general deduction provision.
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The new guidance is not meant to reflect a substantial change to UK law, but the requirement that tax advice is ‘likely to be correct’ imposes unrealistic expectations
China and a clutch of EU nations have voiced dissent after Estonia shot down the US side-by-side deal; in other news, HMRC has awarded companies contracts to help close the tax gap