05 Aug 099 Decision Impact Statement - Aitken; Langford
On 4 August 2009, the ATO issued a Decision Impact Statement in relation to the AAT decision in Aitken and FCT; Langford and FCT  AATA 83; 2009 ATC 10-077. The cases concerned whether amounts paid to shareholders of a company, being the proceeds from the sale of company assets and paid to the shareholders by the purchaser, were dividends assessable under s 44 of ITAA 1936. The AAT found that the receipts in question were the beneficial property of the company, rather than the applicants and were accordingly not dividends assessable under s 44 of ITAA 1936. The ATO says that this was a finding of fact open on the evidence.
For a copy of the Decision Impact Statement, go here