Published on 12 Mar 09
by NATIONAL DIVISION, THE TAX INSTITUTE
This presentation covers:
- the creation and exercise of rights including:
- timing and attribution rules
- the impact of contingencies upon the characterisation of the transaction and the quantification of consideration
- the distinction between consideration for the creation of the right and the exercise of the right
- the potential for multiple taxation and the need for statutory relief or precise attribution of consideration.
- the termination or extinguishment of rights including:
- forfeiture of deposits: the High Court in Reliance Carpets and the Federal Court in Brooks
- performance of contracts and the High Court in Orica
- surrenders, releases and the operation of law.
- earnouts including:
- long-term leases, subdivision and issues arising from the interaction of the different taxes.
Peter Green FTIA is a Partner at the Sydney office of Mallesons Stephen Jaques. Peter specialises in revenue law,
including income tax, capital gains tax, stamp duty Australia-wide and GST. Peter is the joint author of the third
edition of Principles of Income Taxation.
Current at 11 March 2009 Current at 02 April 2009
Click here to expand/collapse more articles by Peter GREEN.