Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
August v Commissioner of Taxation [2012] FCA 682 Citation: August v Commissioner of Taxation [2012] FCA 682
Parties: PETER AUGUST v COMMISSIONER OF TAXATION HELEN AUGUST v COMMISSIONER OF TAXATION
File numbers: NSD 420 of 2010 NSD 422 of 2010
Judge: NICHOLAS J
Date of judgment: 28 June 2012
Corrigendum: 3 July 2012
Catchwords: TAXATION – appeals against Commissioner's disallowance of objections to income tax assessments – sale of commercial real estate – whether profit derived from sale of properties was income according to ordinary concepts – whether properties acquired for purpose of profit-making by sale Held: Properties acquired for purpose of profit-making by sale – appeals dismissed
Legislation: Income Tax Assessment Act 1936 (Cth) s 95, s 97 Income Tax Assessment Act 1997 (Cth) s 6-5, s 6-10, s 102-5(1), s 115-25, 115-100, Div 115, Subdiv 115-C
Cases cited: Californian Copper Syndicate v Harris (1905) 5 TC 159 Commissioner of Taxation v Cooling (1990) 22 FCR 42 Fabre v Arenales (1992) 27 NSWLR 437 Jones v Dunkel (1959) 101 CLR 298 McCormack v Federal Commissioner of Taxation (1979) 143 CLR 284 Moana Sand Pty Limited v Federal Commissioner of Taxation (1988) 88 ATC 4897 Westfield Limited v Commissioner of Taxation (1991) 28 FCR 333
Date of hearing: 20, 21, 22 and 23 June 2011
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