Rowntree v Commissioner of Taxation [2018] FCA 182

INCOME TAX – assessment of receipts of income said to be loans – appeal from Administrative Appeals Tribunal decision that assessment based on finding receipts were income not excessive under s 14ZZK of Taxation Administration Act 1953 – whether Tribunal erred by finding that objectively receipts by taxpayer from companies he controlled were income despite finding that taxpayer believed transactions were loans to him

EVIDENCE – consideration of proof of contract where same person controlling mind of both companies or parties to a payment by one to the other without contemporaneous documents evidencing purpose or agreement – whether belief of person being controlling mind of both parties as to legal effect of payments sufficient evidence of that effect. Click here.