Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
News Australia Holdings Pty Ltd v Commissioner of Taxation [2017] FCA 645 File number: NSD 1126 of 2016
Judge: PAGONE J
Date of judgment: 8 June 2017
Catchwords: TAXATION – method of accounting – whether income derived on receipts or accruals basis – whether accruals basis only to be applied to entities in the business of money lending – whether the lending money was an aspect of the taxpayer's business
Legislation: Income Tax Assessment Act 1936 (Cth) Income Tax Assessment Act 1997 (Cth) Taxation Administration Act 1953 (Cth)
Cases cited: Arthur Murray (NSW) Pty Ltd v The Federal Commissioner of Taxation (1965) 114 CLR 314 Brent v Federal Commissioner of Taxation (1971) 125 Commissioner of Taxes (SA) v The Executor Trustee and Agency Company of South Australia Limited (1938) 63 CLR 108 ("Carden's Case") CTC Resources NL v Federal Commissioner of Taxation (1994) 48 FCR 397 Federal Commissioner of Taxation v Ashwick (Qld) No 127 Pty Ltd (2011) 192 FCR 325 Leigh v Inland Revenue Commissioner [1927] 1 KB 73 Permanent Trustee Co v Federal Commissioner of Taxation 2 (AITR) 109) Saint Lucia Usines and Estates Company Limited v Colonial Treasurer of Saint Lucia [1924] AC 508
Date of hearing: 1 February 2017
Registry: New South Wales
Division: General Division
National Practice Area: Taxation
Category: Catchwords
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