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Recent trends: capital versus revenue

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Published on 01 Feb 23 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

The recent cases dealing with the characterisation of outgoings as being either on revenue or capital account serve as a reminder that the borderline cases remain as difficult to resolve as ever. Although these cases have revealed some themes in terms of how parties have sought to argue their cases, and the High Court introduced the concept of the counterfactual in Sharpcan, arguably the main “trend” in the recent cases is that the result often comes down to answering a prior question: what was the amount really paid for?

Author profile

Melanie Baker KC CTA
Melanie Baker KC, CTA, is a Barrister at the Victorian Bar who specialises in tax and administrative law. As a barrister, Melanie regularly advises, and appears on behalf of, taxpayers and the Commissioner of Taxation. In recent years, she appeared in the transfer pricing case Glencore and the anti-avoidance cases, BBlood Enterprises and Minerva. Melanie is also a Senior Fellow of the University of Melbourne where she co-lectures the post-graduate law subject, ‘Tax Litigation’. - Current at 09 August 2023
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