OrbitaxTreaty between Australia and United States – Australian Federal Court holds Cayman Islands partnership not US resident and cannot be assessed under the treaty
|Treaty Development|Australia; United States
On 26 April 2013, the Australian Federal Court handed down its decision in Resource Capital Fund III LP v. Commissioner of Taxation [2013] FCA 363.
Background
The facts of the case are relatively simple – in 2006, Resource Capital Fund III LP (RCF), a limited partnership formed in the Cayman Islands, bought shares in St Barbara Mines Ltd (SBM), an Australian company that conducted …
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