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Full Federal Court confirms capital treatment for subdivided farmland
28/04/2026
Engaging a developer to subdivide and sell long-held farmland does not, by itself, mean the landowner is carrying on a business or running a profit-making scheme. The Full Federal Court’s decision in Commissioner of Taxation v Morton [2026] FCAFC 31 reinforces that, on the right facts, sale proceeds can remain capital — not assessable revenue […]