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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 including high net worth and large private SME’s. He is closely engaged in the property industry across income tax, GST and state taxes and actively involved number of technical forums including the Property Council, Retirement Living Council and CAANZ taxation working groups. Scott does not shy away from complex issues or disputes and has a reputation for achieving commercial outcomes. He is active in The Tax Institute as former New South Wales State Chair, remaining active in State Council and the Professional Development committees. He has presented a number of papers for The Tax Institute and other bodies and is always willing to have a robust discussion. - Current at 18 July 2019
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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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