Published on 01 May 04
by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE
In Sherlinc Enterprises Pty Ltd v FCT (2004) AATA 113, the AAT has found that a purported choice to apply the now repealed replacement asset rollover under Div 123 was not a 'choice' for the purposes of the Income Tax Assessment Act 1997. As a result, the AAT has held that the applicant was not precluded from applying the former 50 per cent goodwill exemption concession under the repealed s 118-250.
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