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Capital vs Income

Published on 28 Nov 02 by WESTERN AUSTRALIAN DIVISION, THE TAX INSTITUTE

This seminar paper covers topics inluding:
- The mere realization v isolated business border - where does the border lie now?
- What tests do the Courts apply to determine whether a receipt is capital or income?
- Subdivision, limited development and sale after Whitfords Beach
- Some common problems putting income tax and CGT together - where are the gaps and the double-counting problems?
- Tax accounting for property developments - how do the CGT and income tax rules differ?
- Problems with taxing undissected receipts - what happens when income and capital are mixed, and what happens when two kinds of capital receipt are mixed?
- Gains and losses on liabilities - what does Orica really mean for my clients?

Author profiles:

Rob O'CONNOR
Current at 19 November 2004 Click here to expand/collapse more articles by Rob O'CONNOR.
 
Graeme S COOPER
Graeme is Professor of Taxation Law at the University of Sydney and Chairman of the NSW Technical Committee. He has worked as a consultant to the ATO, Treasury, Board of Taxation, OECD, World Bank and IMF. He is a frequent speaker at Taxation Institute events and has written many articles in Australian and overseas journals. He was admitted to legal practice in NSW (1980) and Victoria (1999) and practised commercial law and tax in Sydney before entering teaching. He has taught tax in Law Schools in Australia, Europe and the United States, and holds degrees from the University of Sydney, University of Illinois and Columbia University, New York.
Current at 12 March 2008 Current at 03 April 2008 Click here to expand/collapse more articles by Graeme S COOPER.

 

This was presented at Capital v Income .

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Capital v Income

Author(s):  Graeme S COOPER,  Rob O'CONNOR

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