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09 Jul 08 Decision Impact Statement - Summers

The ATO has published a Decision Impact Statement in relation to the AAT's decision in Summers v FCT [2008] AATA 152, 2008 ATC 10-007. The case concerned the application of the CGT main residence exemption in Subdivision 118-B of ITAA 1997 and whether certain expenses formed part of the cost base of a CGT asset. The main question in this case was whether, as a matter of fact, a shed was the applicant's main residence for a period of 4 months. The AAT accepted that it was. In the view of the ATO, this is another case that depended on its own particular facts.

For a copy of the Decision Impact Statement, go here

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