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In the Buckley & Young Ltd v CIR case, the company paid a taxpayer to retire early due to dissatisfaction with his performance. The compensation
In the Buckley & Young Ltd v CIR case, the company paid a taxpayer to retire early due to dissatisfaction with his performance. The compensation package included a consultancy contract, superannuation contributions for four years, legal expenses, and a company car. In return, the taxpayer agreed to a restrictive covenant, preventing him from competing against the company or disclosing its information. Buckley & Young claimed these costs as deductions, but the Inland Revenue argued they were capital expenses, not revenue expenses. The courts ultimately decided on the nature of these expenses. wat cost
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