Skip to main content
shopping_cart

Your shopping cart is empty

03 Jul 12 Profits on sale of properties were ordinary income - August

The Federal Court (Nicholas J) has held that the taxpayers, as beneficiaries of a trust, were in receipt of income according to ordinary concepts when they received their share of the profits made on the sale of a number of properties acquired by the trustee of the trust.

In particular, the Court held that the properties had been acquired for the purposes of profit making by sale: August v FCT [2012] FCA 682 (Federal Court, Nicholas J, 28 June 2012).

 


Media Release Search
Keywords
Eg. TD 2005/D52 ALL words EXACT phrase WITHOUT words Date range
From To