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Ongoing revenue v capital issues - share "traders"

Publication date: 02 Oct 13 | Source: CCH TAX WEEK

Issue: Issue 37, 20 Sep 2013

Pages: p 1-2


A recent AAT decision in Hartley v FC of T, 2013 ATC 10-333, found that the taxpayer was not in the "business" of share trading and supported the Commissioner's postulate that he was an "investor". As a consequence the taxpayer was denied revenue deductions for the losses incurred.

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Author profile

Scott McGill CTA
Scott McGill, CTA, 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 villages/aged care and investors. Scott has extensive experience in income tax, GST and state taxes from both his time in public practice as well as the ATO, and has a reputation for achieving commercial outcomes on complex issues. - Current at 27 February 2017
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