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The capital/revenue distinction in financial services paper

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Published on 05 Feb 20 by NATIONAL DIVISION, THE TAX INSTITUTE

This paper covers:

  • when is a gain on realisation of an asset ordinary income?
  • application to financial services businesses
  • impact of the consolidation rules on the analysis.

Author profile

Eugene Wheelahan KC FTI
Eugene Wheelahan KC, FTI, practices principally in tax law. He has appeared for both taxpayers and the Commissioner of Taxation in leading cases in the High Court and Federal Court, including, most recently, the Minerva, Mylan, Ausnet and PepsiCo cases. Eugene has a Master of Tax from the University of Melbourne where he is a Senior Fellow of the Law Faculty, lecturing in the subject Tax Litigation. - Current at 04 June 2025
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This was presented at 2020 Financial Services Taxation Conference .

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