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The Orica Decision


The ORICA (I.C.I.) case is the latest consideration by the High Court of income under Section 25(1) and assets and disposal under the Capital Gains Tax. The High Court has accepted that the mere performance of a contractual obligation gives rise to a taxable capital gain, but not ordinary income, to a non-financial institution. This paper looks at the ORICA decision and the implications of the decision. This paper also includes the Commissioner's approach report.

Author profiles:

Russell GARVEY
Russell is Director of Tax Consulting with Horwath (WA). He has 25 years experience in commerce and the public and private sectors including 22 years in the taxation field, advising a wide range of clients on State, Federal and International revenue law. Russell has a unique public and private sector experience. As a former Tax Counsel with the ATO, Russell was deeply involved with the development and application of taxation policy and legislation in both Perth and Canberra and penned several public rulings during that time. He provides specialist advice to a wide range of clients in the not for profit sector, including sporting bodies, not for profit hospitals, some of the country's most prominent charities and public benevolent institutions. Russell has also consulted to our public and private universities on all areas of taxation compliance and planning.
Current at 8 July 2004 Current at 19 November 2004 Click here to expand/collapse more articles by Russell GARVEY.
Author Photo - Des MALONEY
Des has been Deputy Chief Tax Counsel for the Australian Taxation Office since 1994 and is a member of the ATO’s Public Rulings Panel, the International Tax Rulings Panel and the Part IVA Panel. Des is based in the Casselden Place Tax Office in Melbourne.
Current at 9 February 2009 Current at 14 May 2009 Click here to expand/collapse more articles by Des MALONEY.


This was presented at Paper Profits, CGT & the ORICA Decision .

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Individual sessions

The ORICA Decision

Author(s):  Russell GARVEY,  Des MALONEY

Materials from this session:

Life after Orica: CGT: the case for legislative change

Author(s):  Russell GARVEY,  Des MALONEY

Materials from this session:

Further details about this event:


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