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Budget 2009: Government's Interim Response to High Court's Decision in Word Investments Case.
GOVERNMENT'S INTERIM RESPONSE TO HIGH COURT'S DECISION IN
WORD INVESTMENTS CASE
The Assistant Treasurer and Minister for Competition Policy and Consumer Affairs announced tonight the Government's interim response to the High Court of Australia's decision in Federal Commissioner of Taxation v Word Investments.
The High Court handed down its decision on 3 December 2008. Two issues were resolved in favour of the taxpayer and contrary to longstanding ATO tax rulings: