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  Miscellaneous 2008

Justice Hill Memorial Lecture: Income and capital distinction

Source: Victoria

Published Date: 15 Mar 2008

 

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This paper was presented at both the 23 National Convention and the Capital versus revenue: the sun never sets event held in Victoria on 16 April 2008.

The distinction between income and capital has been the pivotal issue on which most tax issues turn since the Commonwealth imposed income tax. When capital gains tax was introduced it was anticipated that the distinction between income and capital would become less significant. To the contrary, the distinction is one gaining more and more attention. In this paper Justice Pagone focuses on recent developments in the income/capital debate including:

  • the reasons why the distinction remains so central to the Australian tax system
  • the impact of more recent judicial decisions
  • if the judgement has been given, the first decision relating to the debt/equity provisions.
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  • Published By: Tony Pagone QC
  • Published On:15 Mar 2008
  • Took place at:RACV Club, Melbourne

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