Published on 01 Mar 05
by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE
Participants in joint venture arrangements should be aware that termination payments may not be capital in nature but may be assessable to the participant as ordinary income in the year of receipt. In arriving at this conclusion, Senior Member Lindsay considered, in AAT case  AATA 47, that all circumstances leading up and surrounding the entry into joint venture agreements should be taken into account in assessing the character of the receipt in the hands of the recipient.
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