Miscellaneous 2023

Recent trends: capital versus revenue

Source: Taxation In Australia Journal Article

Published Date: 1 Feb 2023


The recent cases dealing with the characterisation of outgoings as being either on revenue or capital account serve as a reminder that the borderline cases remain as difficult to resolve as ever. Although these cases have revealed some themes in terms of how parties have sought to argue their cases, and the High Court introduced the concept of the counterfactual in Sharpcan, arguably the main "trend" in the recent cases is that the result often comes down to answering a prior question: what was the amount really paid for?

Sorry, this is subscriber only content.

To gain access to this material and much more - Subscribe Now.

(Note: Members can access Taxation in Australia journal articles without a Tax Knowledge Exchange subscription - please log in to access).

Already a Subscriber? Login now


The material is copyright. Apart any fair dealing for the purpose of private study, research criticism or review, as permitted under the copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.

Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

The Tax Institute
(ABN 45 008 392 372 (PRV14016))


The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009. 

Copyright Statement

All materials provided on this site are protected by copyright and are owned by or licensed to TTI.

Except as expressly permitted by TTI or the copyright owner, any person or company who uses this site must not use, reproduce, redistribute, retransmit, publish or otherwise transfer, or commercially exploit, the materials or any information, software or other content, in whole or in part, which is available through this site.


Miscellaneous 2023

Share this page