Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
White v Commissioner of Taxation [2012] FCA 109 Citation: White v Commissioner of Taxation [2012] FCA 109
Parties: LORRAINE WHITE v COMMISSIONER OF TAXATION PETER WHITE v COMMISSIONER OF TAXATION
File numbers: VID 936 of 2011 VID 937 of 2011
Judge: GORDON J
Date of judgment: 20 February 2012
Catchwords: INCOME TAX – small business concession – 15 year retirement exemption – maximum net asset value test – sale of shares in company connected with taxpayer and taxpayer's small business CGT affiliate – whether net value of assets of company connected with taxpayer and taxpayer's small business CGT affiliate to be included in maximum net asset value test calculation – whether "another entity" in s 152-20(3) of the ITAA 1997 means an entity other than an entity connected with the taxpayer's small business CGT affiliate – whether company connected with taxpayer "only because of" taxpayer's small business CGT affiliate
Legislation: Income Tax Assessment Act 1997 (Cth) Tax Laws Amendment (2006 Measures No 7) Act 2007 (Cth)
Cases cited: Project Blue Sky Inc v Australian Broadcasting Authority (1998) 194 CLR 355
Date of hearing: 3 February 2012
Date of last submissions: 3 February 2012
Place: Melbourne
Division: GENERAL DIVISION
Category: Catchwords
Number of paragraphs: 49
Counsel for the Applicants: Mr FD O'Loughlin
Solicitor for the Applicants: Hall & Wilcox
Counsel for the Respondent: Mr P Nicholas
Solicitor for the Respondent: Legal Services Branch – Australian Taxation Office
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