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, 10/10/14]