NGFZ v CofT – AAT largely upholds ATO audit and asset betterment assessments rejecting, amongst other things, claims that amounts received were loans

On 25 Oct 2019, the AAT (McCabe DP), a couple have largely failed to satisfy the AAT that amounts assessed by the ATO were loans or loan repayments – in another “where did the money come from” case.

See below for a summary of the case.

[Tax Month – January 2020]