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  Miscellaneous 1998

The Orica Decision

Source: Western Australia

Published Date: 16 Jul 1998

 

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The ORICA (I.C.I.) case is the latest consideration by the High Court of income under Section 25(1) and assets and disposal under the Capital Gains Tax. The High Court has accepted that the mere performance of a contractual obligation gives rise to a taxable capital gain, but not ordinary income, to a non-financial institution. This paper looks at the ORICA decision and the implications of the decision. This paper also includes the Commissioner's approach report.
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The material is copyright. Apart any fair dealing for the purpose of private study,

research critisism or review, as permitted under the copyright Act, no part may be rerpoduced by any process without written permission from The Tax Institute.

Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

This material is copyright. Apart from any fair dealing for the purpose of private study., research, critisism or review, as permitted under teh copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.

Unless expressly stated, opininons are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

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Miscellaneous 1998

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