Clark v Commissioner of Taxation [2009] FCA 1401

FEDERAL COURT OF AUSTRALIA

Clark v Commissioner of Taxation [2009] FCA 1401

TAXATION – consideration of whether the taxpayer has established on the balance of probabilities that the trustee of the trust estate acquired shares in Rothwells Limited in 1988 – consideration of an event of disposal of the shares in the 1993 income year – consideration of whether the trust estate that made a capital gain in the 2001 income year was, as a question of continuity, the trust estate that suffered the capital loss in the 1993 income year – consideration of whether contended changes in the trust fund; the trustee's interest in the trust estate; and the interests of beneficiaries under the trust deed, brought about a break in continuity between the trust estate that made the capital gain in the 2001 income year and that which suffered the capital loss in the 1993 income year

Taxation Administration Act 1953 (Cth), Division 6, Part IVC Income Tax Assessment Act 1936 (Cth), ss 6(1), 95(1), 96 Income Tax Assessment Act 1997 (Cth), ss 4‑5, 102‑5(1), 102‑15, 960‑100(1)(f), 96‑100(2) Corporations Act 2001 (Cth), s 468(10)

Carringbush Corporation Pty Ltd v ASIC (2008) 26 ACLC 506 - cited Federal Commissioner of Taxation v Commercial Nominees of Australia Ltd (1999) 43 ATR 42 – cited and quoted Federal Commissioner of Taxation v Commercial Nominees of Australia Ltd (2001) 75 ALJR 1172 – cited and quoted Octavo Investments Pty Ltd v Knight (1979) 144 CLR 360 - cited Kemtron Industries Pty Ltd v Commissioner of Stamp Duties (Qld) [1984] 1 QdR 576 - cited

DAVID CLARK v COMMISSIONER OF TAXATION

QUD 500 of 2006

HELEN CLARK v COMMISSIONER OF TAXATION

QUD 501 of 2006

GREENWOOD J

30 NOVEMBER 2009

BRISBANE

IN THE FEDERAL COURT OF AUSTRALIA

QUEENSLAND DISTRICT REGISTRY

GENERAL DIVISION QUD 500 of 2006