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M J Heywood
M J Heywood & Co
Chartered Accountant
 

Address:
Suite 407
1 Princess St.
Kew, Vic. 3101

Phone:
613 9853 1234

Fax:
613 9853 1023

Email us

Liability limited by a scheme approved under Professional Standards Legislation

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Articles
Player Management Fee Deductions
Can a Charity Operate a Commercial Activity?
Australian Citizenship Test
Tax Exemption for Terminal Illness
Payroll Tax Reminder
Anti-Money Laundering Update
Donations to Political Parties - No More
Budget 2008 - 2009
Lump Sum Payment Assessable as Income
Penalties for Recklessness in Preparing Business Activity Statements (BAS)
Superannuation Contributions on a payment in lieu of notice
New Home Savings Funds
Pensions & Share Market
Poison Pen - Expensive
Player Management Fee Deductions

In two test cases the Federal Court was asked whether player management fees were deductions.


The test cases were Riddell (a NRL player) and Spriggs (an AFL player) v FCT.

The decision by single judge is contrary to Australian Taxation Office opinion contained in Taxation Ruling TR2000/5.

The player management fees were for negotiation of a contract of employment, was not incurred too soon because the liability to pay only arose after the players received payments under their employment contracts, and were for advising and representing the player in matters concerning the players sporting talent and therefore not capital, and the players had a viable business framework.

First quarter to the taxpayer.  Unfortunately, the ATO will not change its application of the law until the final siren sounds.

 



26th-June-2008