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Mingos v Commissioner of Taxation [2019] FCAFC 211

TAXATION – capital gain – main residence exemption – where title to property was transferred to a trustee company with the consent of the taxpayer pursuant to orders of the Federal Magistrates Court – where trust distributed proceeds from sale of the property to the taxpayer – where taxpayer did not include capital gain from sale of the property in his assessable income for the 2014 income year – where taxpayer sought to rely on exemption in s 118-110 of the Income Tax Assessment Act 1997 (Cth) – where taxpayer contended he had an ownership interest in the property – whether taxpayer had a full equitable interest in the property by reason of the orders made by the Federal Magistrates Court – whether taxpayer held an equitable interest in the nature of an equity of redemption –  whether transfer of the property to the trustee company gave rise to a resulting or constructive trust in favour of the taxpayer – where primary judge made findings based on the reliability and credibility of the witnesses – whether taxpayer demonstrated that the findings were wrong by “incontrovertible facts or uncontested testimony” or were “glaringly improbable” or “contrary to compelling inferences” – appeal dismissed. 

 

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