Trustee denied tax deductions on self-managed super

The Administrative Appeals Tribunal endorsed a Tax Office decision to deny tax deductions of $90,000 claimed by a self-managed super fund on the grounds that the trustees could not substantiate the claims. Amounts claimed by the fund in the case included administrative, secretarial and other services, as well as salaries and contingency fees, for assisting the fund to achieve significant capital gains in share trading. According to the tribunal's determination, the trustees failed to supply evidence detailing what the work was for.