Del Castillo and Commissioner of Taxation (Taxation) [2022] AATA 4233 (12 December 2022)

Concessions available to small business entities under Division 152 of the Income Tax Assessment Act 1997 – Did the applicant carry on a business in the relevant year of income – active asset within the meaning of s 152-40 ITAA97 – exemption to active assets – vacant land – residential letting business – unable to satisfy active asset test – decision affirmed.

Full decision here