Case-law developments in section 8-1 paper

Published on 10 Oct 09 by VICTORIAN DIVISION, THE TAX INSTITUTE

In the past year there have been some potentially landmark developments in the interpretation of section 8-1 of the Income Tax Assessment Act 1997 (C'th). This paper analyses the implications of recent decisions in Malouf, Day, Spriggs & Riddell, St George and others and answers:

• whether there are any new principles emerging?
• is there a new test to satisfy the positive limb?
• has the capital exclusion been expanded?
• how wide should the factual survey be to provide a context for the outgoing?
• what are the trends and likely appeal outcomes?

Author profiles

Michael Clough FTI

Michael is a Partner at King & Wood Mallesons and has over 30 years experience advising Australian and foreign-owned corporate groups on income tax issues which arise in the capital and debt markets and in merger and acquisition transactions. Michael has also conducted on behalf of his clients numerous tax appeals and other related proceedings in the State, Federal and High courts. - Current at 16 January 2017

More by Michael CLOUGH

• Australian Taxation Office investigations - Recent issues paper - 13-March-2013
• Workshop 2 case studies and answers: Managing tax disputes - 25-October-2012
• Financing of Australian resources projects paper - 25-October-2010
• Navigating through corporate restructuring tax provisions paper - 05-October-2006
• The rulings system - which one, if any, do you apply for now? - 30-August-2001
• A hard rain's gonna fall: Life after the Orica decision - 24-February-1999
• "Smart tax advice" : dangerous or essential - 10-September-1998
• Debt defeasance: a corporate perspective - 01-October-1990
• Strategies for the 1990's paper - 04-August-1989
• Deductibility of interest - 01-January-1989

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