Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Commissioner of Taxation v Altnot Pty Ltd [2014] FCA 362 Citation: Commissioner of Taxation v Altnot Pty Ltd [2014] FCA 362
Appeal from: Altnot Pty Ltd v Commissioner of Taxation [2013] AATA 140
Parties: COMMISSIONER OF TAXATION v ALTNOT PTY LTD
File number(s): VID 280 of 2013
Judge(s): PAGONE J
Date of judgment: 13 March 2014
Catchwords: TAXATION – capital gains tax – whether taxpayer entitled to small business capital gains tax concession under s 152-10 of the Income Tax Assessment Act 1997 (Cth) – whether taxpayer met maximum net asset value test – net value of CGT assets of entities "connected with" taxpayer required to be taken into account for purposes of maximum net asset value test – meaning of "connected with" – construction of s 152-30(2)(b) of the Income Tax Assessment Act 1997 (Cth) – connection for purposes of s 152-30 to be determined by reference to first entity and "its small business CGT affiliates".
Legislation: Administrative Appeals Tribunal Act 1975 (Cth) s 44 Income Tax Assessment Act 1997 (Cth) s 115-10, 115-15, 115-25, 152-30
Cases cited: Eureka v Freehills Services (2008) VSCA 156 Registrar of Titles v Franzon (1975) 132 CLR 611 TNT Skypak International (Aust) Pty Ltd v Federal Commissioner of Taxation (1988) 82 ALR 175, 178
Date of hearing: 13 March 2014
Date of last submissions: 13 March 2014
Place: Melbourne
Division: GENERAL DIVISION
Category: Catchwords
Number of paragraphs: 9
Counsel for the Appellant: P D Nicholas
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