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Claiming tax deductions after the business ceases
Record ID:
20377
Format:
LIJ Article
Year:
1999
Author:
Warnock, Robert ;
Subject:
Tax Deductions ; Cessation of Business ;
Source:
LIJ (1999) 73 No 2
Date_of_entry:
01/03/1999
Notes:
The ATO has in the past relied on a 1935 case for the proposition that if a business ceases then the relevant nexus between the earning of the assessable income and the incurring of the expense is broken. In two recent Full Federal Court cases, the Court held that in the circumstances of the case expenses incurred after the business had ceased were deductible ; Headings include: test case - court decision - practical implications
Section:
Tax Topics
Cases:
Amalgamated Zinc (de Bavay's) Ltd v FCT ; AGC (Advances) Ltd v FCT ; FCT v Riverside Road Pty (in liq) ; Placer Pacific Management Ltd v FCT ;
Month:
February


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Subject:
Income Tax ; Tax Deductions ; Interest ; Macquarie Finance Limited v Federal Commissioner of Taxation (FCT) [2004]FCA 1170 ; Hart v Federal Commissioner of Taxation (FCT) [2004] HCA 26 ;
Year:
2005
Subject:
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