The Federal Court in FCT v Eichmann [2019] FCA 2155 (Eichmann) held that land used for storage was not an active asset for purposes of the small business capital gains tax (CGT) concessions in Division 152 of the Income Tax Assessment Act 1997 (ITAA 1997).
Sladen Snippet – Full Federal Court Affirms No CGT Discount on Share Disposal
The Full Federal Court in Hart v FCT affirmed the Federal Court’s decision in Paule v FCT that the capital gains tax (CGT) discount did not apply to the sale of shares owned by a trust.