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16 Jan 08 ATO to appeal deductibility of management fees cases

The ATO has advised that it will appeal against the decisions of Gordon J of the Federal Court in Riddell v FCT [2007] FCA 1818 and Spriggs v FCT [2007] FCA 1817, delivered on 23 November 2007: see 2007 TAXVINE No 47 (14) (30 November 2007). These decisions held that management fees paid by two professional footballers to management companies for services performed in negotiating playing contracts were deductible under s 8-1(1) of ITAA 1997.  In the meantime, the ATO advises that it will continue to apply its view as set out in Taxation Ruling TR 2000/5.

For a copy of the ATO advice, go here

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