From www.accountantsdaily.com.au: The ATO has released a decision impact statement on the Federal Court’s ruling in Mylan Australia Holding Pty Ltd v Commissioner of Taxation, stating that Part IVA does not apply to certain debt push-down schemes under specific circumstances.

The court ruled in favour of Mylan, determining that the taxpayer’s intent to obtain a tax benefit did not constitute the dominant purpose of the scheme.

The ATO maintains that Part IVA may still apply to similar schemes depending on the facts of each case.