*FCT v Byrne Hotels – Commissioner can’t appeal decision that for $5m net value purposes an agent’s commission for the sale of a hotel counts [26]

The High Court, on Fri 8.6.2012, refused the Commissioner special leave to appeal against the Full Federal Court decision in FCT v Byrne Hotels Qld Pty Ltd [2011] FCAFC 127. The Full Federal Court decision had by majority confirmed that for the purposes of accessing the CGT small business concessions, a real estate agent commission incurred on the sale of a hotel business could be included as a “liability” for the purposes of the “maximum net asset value test”.

[LTN 110, 8/6]