This session examines the circumstances in which an asset originally acquired for capital purposes can later change its character and become trading stock. The discussion focuses on the role of taxpayer intention, objective conduct, and timing in determining when (and if) such a conversion occurs for income tax purposes.
The analysis considers judicial authority on change of intention in property and business contexts, including the point at which activities move beyond mere realisation of a capital asset and into the carrying on of a profit-making scheme or business.
Please see below link to case materials which is assumed reading in order to participate in the discussion:
Legal database – View: Cases: Judgment by Stephen J.:
Discussion led by Adrian Cartland