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On 26 November 2014, the ATO issued an addendum (TR 2002/14A2) to TR 2002/14 (Income tax: taxation of retirement village operators).

The addendum is issued to reflect the decisions of the AAT in Retirement Village Operator and FCT [2013] AATA 887 and The Retirement Village Company [Tricare Group Pty Ltd] and FCT [2011] AATA 298, in which the AAT found that certain payments made by a retirement village operator to outgoing residents (or to their legal personal representatives) are deductible to the retirement village operator under s 8-1 of ITAA 1997. These payments represent a share of any increase in the entry price payable by a new resident (that is, the difference between the initial entry price paid by the outgoing resident and the entry price payable by the new resident).

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