The taxpayer has discontinued his appeal to the Federal Court from the AAT decision in Joubert and FCT [2020] AATA 2645. The Tribunal decision, which now stands, held that a taxpayer who moved to Singapore for work, but who regularly and frequently returned to Australia to visit his family, remained a tax resident of Australia.
TAXATION – residency of taxpayer – whether resident according to ordinary concepts – Applicant worked overseas to financially support family residing in Australia – Applicant lived in rented accommodation leased by employer – decision affirmed
The taxpayer has discontinued his appeal to the Federal Court from the AAT decision in Doyle and FCT [2020] AATA 345. The AAT decision, which now stands, found that profits made by the taxpayer on the sale of properties acquired for industrial development were income and not capital.
TAX AND COMMERCIAL – characterisation of net proceeds – whether proceeds of sale are capital in nature – capital gains – land acquired by a trust – sale of land – ordinary course of business – advice on structuring affairs – shortfall interest charges – administrative penalty – decisions under review affirmed
[LTN 177, 14/9/21]
[Tax Month – September 2021] 3.10.21