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On 14 November 2012, the High Court, in the case of Mills v Commissioner of Taxation 2012 HCA 51, allowed an appeal against a Full Federal Court decision and set aside a determination of the Commissioner of Taxation (the Commissioner) to deny franking credits under a franking credit scheme relating to certain securities issued by the Commonwealth Bank of Australia (the Bank
It is quite common to use a special purpose entity in the form of a company or trust for major projects, including those involving resources and infrastructure developments
In recent times the taxation of trusts has been subject to a degree of uncertainty in the wake of court decisions such as Bamford v Commissioner of Taxation and the Colonial First State Investments Ltd case
