Husband and wife taxpayers have lodged a notice of appeal to the Federal Court against the decision in AAT Case [2014] AATA 725, Re Scanlon and FCT. The AAT had confirmed that ETPs paid to the taxpayers who owned a private healthcare company were not to be taken into account as liabilities for the purpose of the maximum net asset value test in determining whether they each qualified for the CGT small business concessions.
[LTN 215, 6/11/14]