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Characterising receipts and outgoings convention paper

Published on 10 Sep 04 by VICTORIAN DIVISION, THE TAX INSTITUTE

The recent decision in Transurban City Link Ltd v C of T reinforces the fact that in order to determine whether a receipt or outgoing is of a revenue or capital nature you need to understand the true underlying character of the outgoing or receipt.

This paper explores the approach you need to take to ensure that you have correctly characterised a receipt or outgoing:
- can you assume that the label by which an item is referred to in a contract reflects its true character?
- interpreting contracts
- when are extraneous materials relevant?
- what do you do when the parties to the contract have a different understanding as to the character of outgoing or receipt?
- what do you do when third parties such as merchant bankers or the ATO have a different understanding as to the character of the outgoing or receipt?

Author profile

Jennifer Batrouney AM KC

Jennifer Batrouney AM KC is a silk at the Victorian Bar practising in taxation, commercial, administrative, equity, superannuation and charity law. She was appointed a QC in 2000. She is sought after for her clear and concise advice on charity law and revenue matters throughout Australia. Jennifer is a past President of the Australian Bar Association, the Victorian Bar, the Tax Bar Association and Australian Women Lawyers. She was the founding chair and now sits on the Law Council of Australia Charity Law Committee and is a director of the Charity Law Association of Australia and New Zealand. She sits on the Melbourne Law School Advisory Council and Tax Masters Advisory Board. She is also a Senior Fellow at the Melbourne Law School teaching tax and charity law in the Melbourne Law Masters. Jennifer was appointed a Member of the Order of Australia in 2020 for significant service to the law, the legal profession and women lawyers - Current at 21 March 2023

Individual sessions

Further details about this event:

VICTORIAN/TASMANIAN STATE CONVENTION: TAX - A BALANCING ACT

Characterising receipts and outgoings convention paper

Author profile

Jennifer Batrouney AM KC

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