Skip to main content
shopping_cart

Your shopping cart is empty

Tax Case: Agents now assessable on waiver of Agency Development Loans

Published on 01 May 04 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

Nicholson J of the Federal Court has held in Integrated Insurance Planning Pty Ltd & Another v Federal Commissioner of Taxation [2004] FCA 35 that the waiver of agency development loans made by an insurance company to its agents was assessable income or capital gains of the agents. The case was effectively a test case on ATO ruling TR 2001/9: Income tax - Agency Development Loans so far as it relates to assessment of the agent.

Author profile:

Maree Yong CTA
Maree works for Deloitte Touche Tohmatsu. Current at 25 August 2011 Click here to expand/collapse more articles by Maree YONG.
 
Copyright Statement