Extracting the most out of the Stone decision.
01 Jul 05 |
CCH TAX WEEK
Issue: Issue 20 2 June 2005
In the previous issue of Tax Week (see para.387 (2005)), Mark Burton examined the consequences and limitations of the recent High Court decision in FCT v Stone  HCA 21. The emphasis of that article was on the joint judgement concerning whether the taxpayer was carrying on a business. There is also scope to examine the separate judgement of Kirby J.
This article explores some of the points raised by his Honour, and evaluates the potential for their application to the assessability of receipts under s 6-5 of ITAA 97.
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Michael is Associate Professor of Law at the University of Western Sydney.
- Current at
01 February 2015