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Mingos v Commissioner of Taxation [2019] FCA 834

June 6, 2019


TAXATION – appeal from decision of the Commissioner of Taxation disallowing objection to inclusion of capital gain from sale of property in taxpayer’s assessable income for 2014 income year – where proceeds from sale distributed to taxpayer by trust – where title to property in name of trustee company – whether property had been held on beneficial “subtrust” for taxpayer such that main residence exemption applicable – where property transferred to trustee company with consent of taxpayer – where property treated as trust asset for relevant income years – where no contemporaneous evidence of relevant interest in or entitlement to property at time of sale – whether amount of capital gain on which taxpayer assessed excessive – onus not discharged – appeal dismissed

 

Full decision here

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