Business Structuring

McCarthy: sale of two-lot development taxed as ordinary income

McCarthy: sale of two-lot development taxed as ordinary income

A recent Administrative Appeals Tribunal (AAT) decision re-emphasizes that taxpayers who purchase, subdivide, and sell land within a short timeframe may have entered into an isolated profit-making transaction, with any gains assessed on revenue account.

The Payroll Tax Clampdown Against the Healthcare Industry Continues: the Optical Superstore Case

The Payroll Tax Clampdown Against the Healthcare Industry Continues: the Optical Superstore Case

The Victorian Supreme Court’s decision in favour of the taxpayer has been overturned by the Victorian Court of Appeal. We have previously discussed the Victorian Supreme Court decision.