HomeWhat We DoWhy Choose UsCase StudiesPrincipal ProfilesArticles, Seminars and SoftwareQuantum QuipsContact Us

QUANTUM LEAPS

Back to Quantum Leaps

7. Husher-v-Husher (1999) HCA 47
Substance over Form!

Recent Court decisions have determined that an assessment of economic loss should be based on a party's actual role, duties and contribution to the business. This may differ from a taxation treatment of the business's income. In assessing the economic loss of one of two partners who has suffered an injury causing economic loss, the taxation solution may be to split the income 50/50 between the partners. However an accounting assessment may consider actual roles and contributions to the earnings of the business. This may lead to an assessment somewhat different from 50 per cent.

Please contact us for further information.

Other Articles in This Edition of Quantum Leaps

  1. Civil Liability Act 2002 (NSW) NEW
    The Civil Liability Act 2002 (NSW) has applied since 20 March 2002.
  2. RTA-v-Cremona (2001) NSW CA 338 NEW
    Calculating loss of superannuation benefit.
  3. Entity Structure Analysis
    A technique which can help pinpoint the key issues in a complex business structure.
  4. Financial Discovery Matrix
    What document do I need and where can I find it? Simplifying the perplexing.
  5. Regression Analysis
    A powerful way of examining business trends.
  6. Median -v- Average
    Is there a better way of estimating an expected value than with an average?
  7. Husher-v-Husher (1999) HCA 47
    Substance over form