Stolen monies

Stolen monies

Successful Appeal by the ATO – proving deductibility can prove difficult! However stolen receipts are usually considered assessable taxable income Lean v FC of T (Administrative Appeals Tribunal, 20 June 2008). That decision involved a taxpayer who, in chasing ‘unprecedented earnings…

 When is stolen money tax-deductible?

When is stolen money tax-deductible?

Latest News from CPA Australia (Robert Richards, solicitor and CPA) Lean v FC of T (Administrative Appeals Tribunal, 20 June 2008) Lean was a share trader. In 2001 he met a Mr Heffernan, who claimed he was a Hong Kong-based,…