Federal Court of Australia
FEDERAL COURT OF AUSTRALIA TAXATION – taxpayer in business of developing and subdividing undeveloped land – whether costs incurred by the taxpayer in the development process are part of the cost price of the taxpayer's trading stock consisting of the subdivided lots resulting from the development – whether infrastructure land (being part of the undeveloped land used for roads, parks and drainage etc) can comprise separate articles of trading stock.
Administrative Appeals Tribunal Act 1975 (Cth) s 44 Income Tax Assessment Act 1936 (Cth) ss 6(1), 28, 29, 31, 51 Federal Commissioner of Taxation v St Hubert's Island Pty Ltd (in Liquidation) (1978) 138 CLR 210, followed
COMMISSIONER OF TAXATION v KURTS DEVELOPMENT LIMITED QG 188 AND 189 of 1997 KURTS DEVELOPMENT LIMITED v COMMISSIONER OF TAXATION QG 187 of 1997 BURCHETT, LINDGREN & EMMETT JJ SYDNEY (heard in Brisbane) 28 AUGUST 1998
IN THE FEDERAL COURT OF AUSTRALIA
queensland DISTRICT REGISTRY
ON APPEAL FROM THE ADMINISTRATIVE APPEALS TRIBUNAL
QG 187 of 1997
BETWEEN: KURTS DEVELOPMENT LIMITED
Applicant
AND: COMMISSIONER OF TAXATION
Respondent
JUDGES: BURCHETT, LINDGREN AND EMMETT JJ
DATE OF ORDER: 28 August 1998
WHERE MADE: sydney
THE COURT ORDERS THAT: 1. The appeal be dismissed. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.
IN THE FEDERAL COURT OF AUSTRALIA
queensland DISTRICT REGISTRY
ON APPEAL FROM THE ADMINISTRATIVE APPEALS TRIBUNAL
QG 188 of 1997
BETWEEN: COMMISSIONER OF TAXATION
Applicant
AND: KURTS DEVELOPMENT LIMITED
Respondent
JUDGES: BURCHETT, LINDGREN AND EMMETT JJ
DATE OF ORDER: 28 August 1998
WHERE MADE: sydney
THE COURT ORDERS THAT: 1. The decision of the Tribunal to set aside the objection decisions under review and to remit the matters to the Applicant Commissioner be set aside. 2. The Respondent Taxpayer's application for review to the Tribunal be dismissed. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.
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