Miscellaneous 2022

What is a "fixture" and why does it matter?

Source: The Tax Specialist Journal Article

Published Date: 1 Apr 2022


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 (Cth) 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 (Cth) and state duties - with a particular focus on two recent Supreme Court decisions that reached different conclusions regarding the chattel/fixture distinction in relation to wind farms. The author highlights the inconsistencies between the definitions used in Div 6C and Div 855, and explains how the two courts reached ifferent conclusions about very similar assets.

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Miscellaneous 2022

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