The court upheld the primary judge’s rejection of STAI’s reliance on US bond rates to determine the arm’s length interest rate. The court agreed this “hypothesis” “departed too far” from the actual LNIA transaction, which was an intra-group vendor financing arrangement not ...
But Mr Jordan noted that “Australians love their work-related expense deductions” and that abolishing them in favour of lower personal income tax rates “would be a big step”. He was speaking on Wednesday at the National Press Club in his last public outing as tax commissioner before he o...