The ATO on Fri 1.6.2012, released a Decision Impact Statement on the AAT’s decision in AAT Case [2012] AATA 208, Re Mehta and FCT.
In that case, the AAT held the taxpayer was a share trader for the year ended 30 June 2009 as it was satisfied that the taxpayer’s activities amounted to carrying on a business. The ATO said the case was decided on its facts and will not have any impact on any existing or future litigation proceedings. It also said the case had no impacts on any ATO precedential documents or Law Administration Practice Statements.
[LTN 105, 1/6]