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31 Oct 088 "Service warrant" admin fees ordinary income - Pre Paid Professional Administration

The Federal Court (Heerey J) has held that administration fees to which the taxpayer was entitled as "Administrator" under a business scheme relating to "service warrants" constituted ordinary income of the taxpayer for the purposes of  s 6-5(1) ITAA 1997. The taxpayer's argument that the fees had been received as agent for its parent company was rejected: Pre Paid Professional Administration Ltd v FCT [2008] FCA 1580 (Federal Court, Heerey J, 23 October 2008).

For a copy of the decision, go here

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