Miscellaneous 1998

Life after Orica: CGT: the case for legislative change

Source: Western Australia

Published Date: 16 Jul 1998


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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 need for legislative change.


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Miscellaneous 1998

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