*Sanctuary Lakes Pty Ltd v FCT – taxpayer denied special leave to appeal decision that it was not entitled to deductions totaling $18m for golf resort [17]

The High Court heard the following applications for special leave to appeal on Fri 8.11.2013:

• Sanctuary Lakes Pty Ltd v FCT – the High Court refused taxpayer special leave to appeal against the decision in Sanctuary Lakes Pty Ltd v FCT [2013] FCAFC 50. The Full Federal Court decision had unanimously dismissed the taxpayer’s appeal against an AAT decision on the substantive issue and confirmed that the taxpayer was not entitled to deductions for over id=”mce_marker”8m in relation to a range of outgoings incurred in connection with the restructuring of the development of a “golf course and resort style living” complex.

[LTN 217, 8/11/13]