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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 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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