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The High Court’s capital/revenue decision in ‘Sharpcan’ - Part II

What reasons did the High Court provide for dismissing Sharpcan’s revenue outlay arguments?

In the recent High Court decision in the Sharpcan capital/revenue case, it was held that amounts paid by a taxpayer for gaming machine entitlements (GMEs) were non-deductible capital outgoings.The GMEs, which allowed the taxpayer to operate gaming machines for a period of 10 years, seemingly had a number of factors that might lead to a conclusion that the purchase price was a revenue outgoing. These included the risk of forfeiture if instalments were not made, the temporary nature of the asse...

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Authors: Richard Wilkins

Published Date: 27 October 2019


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