Capital gains taxation of damages: a challenge for litigants and their advisers

Serge Galitsky

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    Australia’s adoption in 1986, of capital gains taxation (CGT), employed a broad concept of gain not confined to the simple case of a purchase and resale at profit. The imposition of capital gains taxation on damages appeared to be a consequence of the adoption of a very broad conception of what is to be considered as an asset. The subsequent reformulation of what is a CGT event continued the continued the philosophy of broad inclusion. This paper asks what should occur in the process of assessing damages , and how to protect the compensatory value of an award.
    Original languageEnglish
    Pages (from-to)21-46
    Number of pages26
    JournalMacquarie journal of business law
    Issue number2
    Publication statusPublished - 2005

    Bibliographical note

    Publisher version archived with the permission of the Dean, Division of Law, Macquarie University, NSW, Australia. This copy is available for individual, non-commercial use. Permission to reprint/republish this version for other uses must be obtained from the publisher.

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