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Can property be held for dual purposes?

Publication date: 21 Dec 06 | Source: CCH TAX WEEK

Issue: Issue 50 2006

Pages: pp.1-4

In the Federal Court decision in R & D Holdings Pty Ltd v DFC of T 2006 ATC 4472, Finn J states that he can see no reason why property cannot be regarded as trading stock even though the dominant purpose of holding the property may be as a long-term investment.

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Author profiles

Scott McGill CTA
Scott is a Partner at Pitcher Partners Sydney where he focuses on taxation, business, structuring and succession issues for a wide range of clients. Scott also heads the property industry speciality in the Sydney practice, working with small and large developers, retirement village operators and investors as well as aged care providers. Scott is active in The Tax Institute as New South Wales State Chair, and in number of technical forums including the Property Council, Retirement Living Council and CAANZ taxation working groups. He has extensive experience in income tax, GST and state taxes from both his time in public practice as well as at the ATO, and has a reputation for achieving commercial outcomes on complex issues. - Current at 04 January 2018
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John Brazzale CTA
John is a Partner at Pitcher Partners and is the Partner in charge of the Tax Consulting Division. John has significant experience in advising both public and private clients on tax issues arising from structuring, restructuring, mergers and acquisitions, and also in liaison with revenue authorities. - Current at 09 October 2008
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