Clough Limited v Commissioner of Taxation [2021] FCA 108

TAXATION - appeal against objection decision of Commissioner of Taxation - whether amount paid in consideration for cancellation of employee entitlements deductible under s 8-1 of Income Tax Assessment Act 1997 (Cth) - where share options and performance rights of employees required to be converted or cancelled upon change in control of business - whether amount paid in gaining or producing assessable income - whether amount necessarily incurred in carrying on business for purpose of gaining or producing assessable income - appeal dismissed.

Full decision here.