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Climate change litigation update
In the two years since our last climate litigation update, the prevalence and variety of global climate litigation around the world has continued to increase.
Global | Publication | February 2017
The Australian Taxation Office (ATO) released a controversial Taxpayer Alert, TA 2017/1 on 31 January 2017. The Taxpayer Alert relates to structures involving both a company (taxed at the corporate rate) and a trust (taxed as a flow through vehicle). The ATO has particularly highlighted structures involving a managed investment trust (MIT) with overseas investors.
The Taxpayer Alert is likely to affect investors in numerous asset classes, including infrastructure and renewables.
Investors need to carefully consider whether their investments are likely to fall within the (very broad) parameters identified by the ATO and should develop a strategy for engaging with the ATO.
Which structures are the ATO concerned about?
The ATO is concerned about “rental staples” (and similar structures where the entities are not stapled). This structure involves the following:
Further, the ATO has also identified these structures as being of concern:
How will the ATO challenge them?
The ATO may challenge the structures under one or more of the following methods:
Which structures should still be OK?
Further information
For information about the implications of this development for your business, please contact one of our Australian Tax partners (see below).
Publication
In the two years since our last climate litigation update, the prevalence and variety of global climate litigation around the world has continued to increase.
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Now in its sixth year, our annual English Premier League (EPL) football report, Keeping Possession, captures insights from our global sports law team on the key trends and topics shaping the landscape of English football.
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