Celebrities Take ATO to Court Over Retirement Village Investments

Moran, S. 'Former Wallaby, Wife Leading Charge at ATO,’ The Australian, June 25, 2008, p. 3.
Eighty investors – including former Wallaby turned writer Peter FitzSimons and his wife, television host Lisa Wilkinson – are taking on the ATO over their investments in retirement villages. The tax office this week revealed it would defend the case, funding a test case over a deduction investor Anthony Malouf claimed was incurred in 1999. Mr. Malouf, like FitzSimons and Wilkinson, relied on a 1994 ATO ruling that said expenditure incurred in acquiring or developing a retirement village would be "considered expenditure of a revenue nature'' and a deduction would be allowed.
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