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Tax cases: CSR Ltd v Commissioner of Taxation 2000 FCA 403 (31 March 2000): Commissioner loses argument that settlement sum assessable

Published on 01 Jun 00 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

CSR Ltd has been successful in the Federal Court in arguing that a sum received from an insurer in settlement of a legal action was not assessable as ordinary income. CSR Ltd argued that the settlement sum was paid as consideration for the release of a number of rights. The Commissioner argued that it was a regular and recurrent part of the taxpayer's business to insure against risk and to receive payment from its insurers. Gyles J in the Federal Court referred to the High Court case of Allsop .

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Annamaria CAREY

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