*Australian Building Systems Pty Ltd v FCT – Commissioner appeals to the Full Federal Court from a decision that s254 does apply to a liquidator for CGT [43]

The Commissioner has appealed to the Full Federal Court against the decision of Logan J in Australian Building Systems Pty Ltd v FCT [2014] FCA 116. The Federal Court had held that, where an assessment has not been issued, s 254 of the ITAA 1936 does not require retention of monies by a liquidator upon the mere happening of a CGT event (ie a disposal of property) and payment of those monies to the ATO.

[LTN 51, 17/3/14]