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Heavy Minerals v FCT (1966) 115 CLR 512

This case considered the issue of compensation received for the cancellation of a business contract and whether or not the compensation received for the early cancellation of a fixed price agreement to purchase a mining product which led to the closure of a business was assessable as ordinary income or capital in nature.

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Heavy Minerals v FCT (1966) 115 CLR 512 studentatlaw
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