Academy Cleaning & Security Pty Ltd v Deputy Commissioner of Taxation

COURT OR TRIBUNAL

Federal Court of Australia

DATE FILED (OR FIRST HEARING DATE)

21/10/2014

LITIGATION TYPE

Corporate Accountability

SUBJECT MATTER

Carbon credits and offsets

REVIEW TYPE

Judicial review

SUMMARY

Academy Cleaning & Security Pty Ltd appealed to the Court under s 14ZZ of the Taxation Administration Act 1953 (Cth) against the decision of the Deputy Commissioner of Taxation to disallow its objection to the Commissioner’s assessment of income tax and shortfall penalty for the year of income ended 30 June 2009. In substance, Academy’s objection related to whether the Commissioner should have disallowed its claim to deduct $420,000 from its assessable income under s 8-1 of the Income Tax Assessment Act 1997 (Cth) (ITAA 1997). Academy Cleaning incurred this outgoing of $420,000 by entering into an emissions reduction purchase agreement.

CASE DOCUMENTS

Academy Cleaning & Security Pty Ltd v Deputy Commissioner of Taxation [2017] FCA 875