The ATO has issued a decision impact statement on Victoria Power Networks Pty Ltd v FCT [2020] FCAFC 169 (see earlier TT article). This upheld the earlier decision of Moshinsky J in the Federal Court (same parties) [2019] FCA 77 – holding that contributions, customers made to Distributors, were ‘ordinary income’ but the Court changed the ‘non-cash business benefits’ analysis for connection assets passed from customers to the Distributors.

See below for further details.

[Tax Month – March 2021]

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