Casenote – Federal Court Applies Anti-Avoidance Rules to Franking Credits Scheme

Journal
Butler, M.; Pengelly, J.
Australia
Asia-Pacific Tax Bulletin 2011 (Volume 17), No. 3
PriceUSD 45

The recent Australian decision in Mills v. Commissioner of Taxation is examined. In this case, the Federal Court applied the anti-avoidance rules to the franking credits of certain hybrid financial instruments.