Case note by Peter Heerey AM, QC, Tom Cordiner & Alan Nash – Australian entities that pay royalties to foreign-based licensors are required to withhold and remit to the Australian Tax Office a portion of that royalty, except to the extent an international tax agreement between Australia and the relevant country provides otherwise.
Tagged: tax liability
The HCA disallowed a joint venturer’s claim to have derived a lump sum as constructive trustee. Alleged fiduciary duties owed to a non-venturer were not accepted. Alternatively, the venturer’s purported equitable assignment of his rights to the lump sum was not tax-effective.