Miscellaneous 2008

Tax Case: CGT cost base uplift - taxpayer caught by Part IVA

Source: Taxation In Australia Journal Article

Published Date: 1 Feb 2008

On 20 August 2007 the Federal Court handed down its judgment in the case of Walters v Commissioner of Taxation which considered whether a series of transactions entered into by the taxpayers, resulting in a uplift of the cost base of shares in a company for CGT purposes was a sham and could be caught by the general anti-avoidance provisions in Part IVA of the Income Tax Assessment Act 1997 "ITAA 1997".

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Miscellaneous 2008

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