Question 1 In 2013, Sibelius Pty Ltd entered into a five year contract to supply rutile


Question 1 In 2013, Sibelius Pty Ltd entered into a five year abridge to yield rutile (titanium ore) to Brahms Pty Ltd. Sibelius had correspondent abridges after a while other purchasers, but its abridge after a while Brahms was its largest abridge, accounting for 75% of its annual allowance. In January 2016, Brahms requested Sibelius to repeal the abridge forthafter a while on the premise that it had no raise use for rutile. Sibelius agreed to free Brahms from the abridge in revert for expiation. Two compacts were entered into. The highest freed Brahms from the abridge in revert for Brahms entering into the relieve compact. The relieve compact was among Brahms and Mozart Pty Ltd, the producer sodality of Sibelius. Pursuant to the relieve compact, Brahms agreed to pay Mozart the sum of $500,000 ‘as expiation for the contraction in the principal esteem of the shares held by Mozart in Sibelius resulting from the repeallation of the abridge’. The relieve compact raise granted for the $500,000 to be hired to Mozart in five annual installments of $100,000, the highest installment to be hired on I July 2016. Consider whether the $500,000 may be assessable allowance of Sibelius or Mozart Question 2 When and why was the dividend befoulment method introduced into Australia? Explain briefly how the method operates. Requirement 1)Case law 2)Case Ruling 3)Section no Using relation from Principles of taxation law 2017 textbook ISBN:9780455239309

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