The ATO on Mon 31.3.2014, released a Decision Impact Statement on the Federal Court decision in FCT v Barossa Vines Ltd [2014] FCA 20. The Federal Court had imposed civil penalties in relation to 2 mass-marketed viticulture managed investment schemes that were implemented in a way that was “materially different” from the ATO Product Rulings used to promote them in contravention of s 290-50(2), Sch 1 of the TAA. The ATO said it agreed with the outcome.

[FJM Note:    Indeed, because this was an outcome agreed in Mediation.]

[LTN 61, 31/3/14]