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Singapore Telecom Australia Investments Pty Ltd v Commissioner of Taxation, [2021] FCA 1597, aff'd [2024] FCAFC 29-- summary under Article 9 Summary Under Tax Topics- Treaties- Income Tax Conventions- Article 9 loan with interest that would vary significantly depending on whether cash flow conditions were met would not have been agreed to by independent enterprises A Singapore-resident company (“SAI”) transferred the shares of a recently-acquired Australian telecom company (“SOPL”) to an Australian subsidiary (“STAI”) in consideration for common shares and $5.2B in unsecured notes which had a term of approximately 10 years and bore interest at a floating rate equal to the 1 year bank bill swap rate (“BBSR”) plus 1%, but multiplied by a gross-up factor of 10/9 to reflect that the interest was subject to withholding tax. ...

Canada (Attorney General), 2022 FCA 117-- summary under Article 27 Summary Under Tax Topics- Treaties- Income Tax Conventions- Article 27 taxpayer stonewalling satisfied the Swiss exchange-of-information requirement that CRA had “pursued all reasonable [domestic] means available” The resident applicants (principally Messrs. ...

PepsiCo, Inc v Commissioner of Taxation, [2023] FCA 1490, rev'd [2024] FCAFC 86-- summary under Article 12 Summary Under Tax Topics- Treaties- Income Tax Conventions- Article 12 part of the purchase price for concentrate purchased by an independent Australian bottler from an Australian PepsiCo company was characterized as a trademark royalty paid to PepsiCo A U.S. company (“PepsiCo”) entered into an “exclusive bottling appointment” (“EBA”) with an independent Australian bottling company (“SAPL”). ...

Singapore Telecom Australia Investments Pty Ltd v Commissioner of Taxation, [2024] FCAFC 29-- summary under Article 9 Summary Under Tax Topics- Treaties- Income Tax Conventions- Article 9 an independent enterprise would have agreed to allow interest to be capitalized, but not to make it contingent on cash flow The taxpayer (“STAI”)- a wholly-owned Australian subsidiary of a Singapore public company (Singapore Telecommunications Limited, or “SingTel”)- purchased in June 2002 all the shares of an Australian telecommunications company (“SOPL”) from another wholly-owned subsidiary of SingTel (“SAI”), which was accepted to be a Singapore enterprise. ...

Revenue & Customs v Burlington Loan Management DAC, [2024] UKUT 152-- summary under Article 12 Summary Under Tax Topics- Treaties- Income Tax Conventions- Article 12 Irishco’s purchasing a UK interest claim from Caymansco at a tax arbitrage price did not have Treaty-reduction as a main purpose BLM was a substantial Irish-resident investment company, which started acquiring proved claims in the administration of Lehman Brothers International (Europe) ("LBIE" – a UK resident) in 2011 and came to own 443 such claims. ...

Royal Bank of Canada v Commissioners for His Majesty's Revenue and Customs, [2023] EWCA Civ 695, aff'd [2025] UKSC 2-- summary under Article 6 Summary Under Tax Topics- Treaties- Income Tax Conventions- Article 6 an oil and gas royalty is not income from immovable property under the Canada-U.K. ...

Royal Bank of Canada v Commissioners for His Majesty's Revenue and Customs, [2025] UKSC 2-- summary under Article 6 Summary Under Tax Topics- Treaties- Income Tax Conventions- Article 6 an oil and gas royalty was too remote from a land interest in the oil field to be immovable property under the Canada-U.K. ...