broker report , page-11

I think people should read the full court decison rather than relying on journos. My reading is that:

This decision refers to a very dodgy scheme that was operating 10 years ago when rules were very slack.
The scheme did not have an ATO product ruling
What was dissallowed was a tax deduction for expenditure that was never made
What was allowed was a tax deduction for expenditure actually made.

Personally I dont see this as having much to do with the upcoming court case for TIM or GTP.

But then again

DYOR

Neil