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AusNet Transmission Group Pty Ltd v Federal Commissioner of Taxation

[2015] HCA 25
Case number
M139/2014
Before
French CJ, Kiefel, Bell, Gageler, Nettle JJ
Catchwords

Taxation – Income tax – Allowable deductions – Charges were imposed on holder of electricity transmission licence pursuant to State regulatory framework – Taxpayer purchased assets of electricity transmission business including electricity transmission licence – Taxpayer required to pay charges to State of Victoria under asset sale agreement – Whether payments of charges were outgoings "of capital, or of a capital nature" and therefore not tax deductible.

Words and phrases – "capital", "capital account", "of a capital nature", "revenue account".

Electricity Industry Act 1993 (Vic) – ss 163A, 163AA.

Income Tax Assessment Act 1997 (Cth) – s 8-1(2)(a).

Files
25.rtf (846.3 KB)
25.pdf (517.36 KB)