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Tax Case: Capital gains everywhere in settlement of actions

Published on 01 Mar 05 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

Lindsay of the Administrative Appeals Tribunal has held in AAT Case [2005] AATA 72, Re G Cassegrain & Co Pty Ltd and C of T that a $9.5 million settlement payment made to the taxpayer, a family company, was assessable as a capital gain. The case raises some intricate and fundamental issues of the operation of the CGT in the context of settlement of actions.

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Maree Yong CTA
Maree works for Deloitte Touche Tohmatsu. Current at 25 August 2011 Click here to expand/collapse more articles by Maree YONG.
 
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