With the introduction of capital gains tax in 1985, the distinction between gains made on capital account and those made on revenue account became less important. However, although less important, the distinction still has significant tax consequences and as a result, cases on the capital revenue distinction continue to occupy the courts today. Accordingly, there are a number of instances where the capital revenue distinction is of great importance to the taxpayer.
Other presentations by Anna Wilson
Borrowing by SMSFs (2015)
Cases update for private groups (2016)
Professional Firms and the Allocation of Profits – Suspension of the Commissioner’s Guidelines (2018)
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