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Tax Notes Series - Part 4: Commissioner of Taxation v Sharpcan Pty Ltd [2019] HCA 36

Friday, 14 August 2020 - 10:30 AM to
Friday, 14 August 2020 - 11:30 AM
     

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Part 4: Commissioner of Taxation v Sharpcan Pty Limited [2019] HCA 36

In Sharpcan, the High Court unanimously held that payments made by the trustee of the Daylesford Royal Hotel Trust to the Victorian State Government for 16 gaming machine entitlements were on capital account and not deductible under section 8-1 of the Income Tax Assessment Act 1997. The session will consider the reasoning of the High Court and Thawley J (who, dissenting in the Full Federal Court, also held the payments were on capital account). The session will also consider whether the High Court has established a new test to be used when considering questions of revenue or capital outgoings.

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