Sinclair, N. A.; Whittred, G. P. - In: Australian Journal of Management 7 (1982) 2, pp. 125-138
In August 1976 the then Federal Treasurer foreshadowed the incorporation in the Income Tax Assessment Act, 1936 of a severely modified form of the Mathews Committee's (1975) recommendations on trading stock. This paper documents the existence of substantial “tax-free†capital gains to...