On 16 November 2016, the High Court of Australia dismissed the appeals of four offshore companies that had been assessed tax in 2010 on gains from the sale of shares in companies listed on the Australia Stock Exchange (ASX). The assessments were issued based on the determination that the companies were resident in Australia for tax purposes because they were managed and controlled by an Australian resident accountant.
The following is the judgment summary from the High Court.
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Today the…