City Beach surfs past the application of Part IVA, section 45B in the Full Federal Court

In this article, James Alsop, Steve Plant, Sakshi Mathur and Marko Trifunovski examine the Full Federal Court’s decision that confirmed a 2016 City Beach restructure did not trigger section 45B or Part IVA.

The year opened with its first tax controversy to reach the High Court steps, with the Commissioner of Taxation (Commissioner) filing a special leave application on 2 January 2026 to challenge the Full Federal Court's decision in Commissioner of Taxation v Hicks [2025] FCAFC 171. Delivered on 3 December 2025, Derrington, Feutrill and Hespe JJ unanimously dismissed the Commissioner's appeal in Commissioner of Taxation v Hicks [2025] FCAFC 171, upholding Logan J's earlier judgment in Ierna v C...

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Authors: James Alsop, Steve Plant,

Published Date: 18 February 2026