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The ATO has issued a Decision Impact Statement in relation to the decision of the AAT in VCK and FCT [2006] AATA 1073; 2006 ATC 257. The case concerned whether the taxpayer was entitled to income tax deductions in a business of boat charter, or whether his activities were no more than a passive investment. The AAT found that "on balance and on the particular facts of this case", the taxpayer was carrying on a business of chartering his boat.

The Commissioner considers that the decision was, as noted by the Tribunal, one that turned on its own particular facts. The Commissioner says that it raises no implications for the views expressed in Taxation Ruling TR 2003/4.

For a copy of Decision Impact Statement DIS VT2005/554-556, go here

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