Published on 19 Jun 14
by WESTERN AUSTRALIAN DIVISION, THE TAX INSTITUTE
This paper covers:
- the relevant law
- ordinary income
- assessable income arising from an isolated transaction
- mere realisation – a summary of factors relevant to the intention element (taken from TR 92/3)
- observations as to the Myer first element
- summary as to the Myer second element
- mere realisation: general observations
- application of the law (master class case study).
Jonathan is a former National President of the Taxation Institute of Australia and has extensive knowledge of State and Federal taxation legislation. Jonathan was appointed by the WA Treasurer, the Hon Eric Ripper, to chair the Reference Committee of the recently concluded State Tax Review, intended to build upon tax reforms arising out of the 2001-2003 Business Tax Review.
Current at 21 September 2007
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