Tribal Rule (USA)

Back in May of this year I was very pleased to share details of a tax case that held that a farmer need not pay Capital Gains Tax (CGT) on the subdivision and sale of his 10-acre holding. CGT was avoided as it only applies to capital assets acquired on or after 19 September 1985.

Melbourne Cup day always draws a huge crowd out to Perth's beautiful old Ascot racecourse, and 2025 was no exception!