It may be noted that there is a CGT exemption for compensation or damages “you” receive for any wrong or injury “you” suffer in “your” occupation (sec 118-37(1)(a) ITAA 1997). There seems no reason why “you” would not include a company in this context or that the word “occupation” would cover a business carried on by a company (sec 4-5 ITAA 1997).
 |
29 Sep 2010
Amending Bills reintroduced
Several amending Bills, including the Tax Laws Amendment (2010 Measures No 4) Bill 2010, were reintroduced into Federal ..
15 Sep 2010
Freezing orders continued
The Federal Court has continued freezing orders against five foreign corporations which had never filed tax returns in A..
31 Aug 2010
Penalty for recklessness
The Federal Court has allowed the Commissioner's appeal against a decision of the AAT and held that the taxpayer had fai.. |