A disconcerting decision
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Abstract: For the first time since the introduction of Div 152 ITAA97, specific judicial consideration has been given to the definition of “affiliate” in the small business CGT context. The result casts doubt on the question of when two persons are “acting in concert”, with potentially wide-reaching consequences for small business taxpayers. Jeffrey Chang, Special Counsel with Riordans Lawyers, examines the decision in Stephens v Commissioner of Taxation [2008] AATA 176.
Author
profile:
Jeffrey
CHANG
Jeffrey joined Riordans Lawyers as Special Counsel in 2006 after practising as tax partner in a boutique firm. His practice focus is on tax and structuring issues affecting middle market clients. Jeffrey holds a Master of Laws degree and is accredited by the Law Institute of Victoria as a specialist in tax law. He is a Fellow of the Taxation Institute of Australia and a regular speaker at Taxation Institute conferences and seminars.
Current at 24 July 2008
