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Tax-avoidance in New Zealand: An Important Recent Court of Appeal Decision

On 2 August 2010, the New Zealand Supreme Court granted leave to Messers Penny and Hooper to appeal the decision of the Court of Appeal, which was delivered on 4 June 2010. In that case, the Court of Appeal applied the new Parliamentary contemplation test which had been developed by the Supreme Court in Ben Nevis Forestry Ventures Ltd. This article examines the decision of the Court of Appeal in Penny & Hooper and concludes that the Parliamentary contemplation test has created more uncertainty than the test it replaced.