Source: The Tax Specialist Journal Article
Published Date: 1 Jun 2017
The distinction between land and chattels can be significant to investors in infrastructure, both for the purpose of determining whether Div 6C of the Income Tax Assessment Act 1936 applies and whether assets are taxable Australian property. This article examines the significance of the distinction between land and chattels in three different statutory contexts: Div 6C, Div 855 of the Income Tax Assessment Act 1997, and stamp duty. The author outlines the inconsistencies between the definitions used in Div 6C and Div 855, and highlights the potential conflict between avoiding the application of Div 6C while also remaining outside the taxable Australian property regime.
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