On 21 June 2019, the AAT (Lazanas SM) decided that Seabreeze (a pseudonym) had acquired land under the margin scheme, and was, therefore, eligible to also apply the ‘margin scheme’ to the sale of the town houses it had developed on the land. The twist was the lack of evidence, and how the taxpayer discharged its onus to establish that the Commissioner’s assessments were excessive.

See below for a discussion of the case.

FJM 29.6.19

[Tax Month – June 2019]

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