FCT v Montgomery is regarded as an authority on whether a specific type of receipt - a lease incentive – is ‘income according to ordinary concepts’. However, the case has significance beyond the issue of whether lease incentives are ordinary income. This article analyses the reasoning in Montgomery and discusses the subsequent cases in which it has been considered.
"An Extraordinary Concept of Ordinary Income? The Significance of FCT v Montgomery on What is Income According to Ordinary Concepts,"
Revenue Law Journal: Vol. 20
, Article 1.
Available at: http://epublications.bond.edu.au/rlj/vol20/iss1/1