In the case of Scottish Australian Mining Company Ltd v FC of T(1950) 81 CLR 188, the
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In the case of Scottish Australian Mining Company Ltd v FC of T(1950) 81 CLR 188, the High Court reached a decision that was very different from the one reached in Whit fords Beach Pty Ltd v FCT82 ATC 4031.
Discuss these two cases and explain the reasoning of the Court in each of them. Your answer should include your view as to the circumstances where the sale of real estate would be classified as ordinary income as opposed to a capital gain.
Related Book For
Cornerstones of Managerial Accounting
ISBN: 978-0324660135
3rd Edition
Authors: Mowen, Hansen, Heitger
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