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Session details

Session 5.5: Recent trends - Capital versue Revenue

The concept of capital versus revenue has been a part of the income tax law since the beginning, and is still an important concept to this day. Even though Australia hasa detailed capital gains tax regime, the characterisation of a gain (or loss) as capital or revenue can have significant implications across a number of areas. It has a significant impact on property transactions, and flow on effects into deductions and GST.

This session provides a back-to-basics analysis of the concept, providing highlights of the issue and guidance as to what to look for in such transactions. It will also consider recent trends in this area, the focus of the ATO and the main recent cases that continue to shape this area.

Speaker: Melanie Baker, CTA, Victorian Bar