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Hedges v Commissioner of Taxation [2022] FCA 1389

INCOME TAX – capital gains tax – appeal from decision of the Administrative Appeals Tribunal – where Tribunal affirmed decision of the Commissioner of Taxation to disallow the taxpayer’s objection to an assessment of discounted capital gain from disposal of goodwill in a partnership – where taxpayer is a retired partner of a law firm – where terms of partnership deed provided for the offsetting of moneys payable to and due from the retiring partner upon retirement – whether the relevant capital gain crystallised before or after amounts offset – Held: appeal dismissed with costs.

Full decision here


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