Former Bechtel exec wins appeal, can claim $11.8M share loss as tax deduction

Tax 2020-03-04 5:15 pm By Miklos Bolza | Sydney

A former executive of engineering giant Bechtel will be allowed to deduct over $11.8 million in share losses from his taxable income after successfully challenging a ruling to the Full Federal Court, in a decision that clarifies taxation law for income and capital regarding asset trades.