Class Rulings issued on 8 October 2014 [45]

The ATO on Wed 8.10.2014, released the following Class Rulings: CR 2014/81: Demerger of OMI Holdings Limited by Donaco International Limited; CR 2014/82: Dell Australia Pty Limited Restricted Stock Units; CR 2014/83: Bendigo and Adelaide Bank Limited – allotment of convertible preference shares; and CR 2014/84: The Imperial Tobacco Australia Limited Voluntary Early Retirement Scheme…

Re Thorpe and FCT – taxpayer appeals against AAT decision which only allowed him some deductions and imposed 50% penalties on the balance [40]

The taxpayer has discontinued his appeal to the Federal Court against the decision in AAT Case [2014] AATA 210, Re Thorpe and FCT. In that case, the AAT allowed some deductions claimed by the taxpayer in relation to a property investment, but refused other deductions. It also affirmed the 50% penalty for recklessness. [LTN 195,…