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Terminated property contracts and CGT
Record ID:
17367
Format:
LIJ Article
Year:
1996
Author:
Skondras, Antonia ;
Source:
LIJ (1996) 70 No 3
Date_of_entry:
26/06/1996
Legislation:
Income Tax Assessment Act 1936 s 160ZZC(12)
Notes:
Courts will take a commonsense approach to CGT cases when deciding if CGT provisions apply to a situation - courts will not adjust damages awarded for potential CGT liability where it would be in consistent with common law principles - forfeited deposit - damages received for reduction in value
Section:
Tax Topics
Cases:
Rabelais Pty Ltd v Cameron & Ors 95 ATC 4552 ; Namol Pty Ltd & Anor v A.W. Baulderstone Pty Ltd & Ors 93 ATC 5101 ; Provan v HCL Real Estate Ltd & Ors 92 ATC 4044 ; Tuite & Anor v Exelby & Ors 93 ATC 4293 ; Carborundum Realty Pty Ltd v RAIA Architecture Pty Ltd & Anor 93 ATC 4418 ; Zim properties Pty Ltd v Procter (Inspector of Taxes) (1984) 58 TC 371 ;
Month:
March


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