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The AAT has upheld the Commissioner's amended assessments under which he included in the taxpayer's assessable income his share of the proceeds of sale of certain mining tenements. The taxpayer argued that the proceeds of sale were not his income because he had not received them.

The AAT held that a purported transfer of the mining tenements to a company prior to the sale was ineffective through lack of consideration. Further, the AAT held that the company was acting as the taxpayer's agent when it, rather than the taxpayer, received the proceeds of sale, and that the payment was made in accordance with the taxpayer's directions.

Kirkby and FCT [2014] AATA 759 (AAT, Hack SC DP, 21 October 2014).

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