ATO penalises professional for defective internal loan documents – HNW groups beware!
The recent Federal Court decision of Rowntree v FCT [2018] FCA 182 (reported at 2018 WTB 9 [243]) highlights how much additional care must be taken in documenting even simple related-party transactions, such as loans, that are so prevalent within high net wealth (HNW) private client groups. In this case, the taxpayer, a practising NSW … Read more
