The taxpayer has appealed to the Federal Court against the decision in Re Ward and FCT [2015] AATA 919. In that the decision, the AAT agreed with the Commissioner that there were no “special circumstances” under s 292-465 of the ITAA 1997 to disregard or re-allocate the taxpayer’s excess non-concessional contributions for a year, despite the unfairness of the $209,250 tax liability.

[LTN 2, 6/1/16]