Timbercorp

Collapse of Timbercorp and Great Southern: basis for the ATO to deny tax deductions?

by Gavin Bateman 27 November 2009

Taxpayers who invested in either a Timbercorp or Great Southern managed investment scheme are now well aware of the fact that: -          Timbercorp was originally placed into voluntary administration and is now in liquidation; and -          Great Southern was also placed into voluntary administration with several of its subsidiaries also having ‘receivers and managers’ appointed.  The main reason for the [...]

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Financial Planners are hurting.

by Fiona Bateman 30 October 2009

The collapse of Timbercorp’ Great Southern has hurt Financial Planners. Asset – The Financial Planning Professional Magazine editor stated that Professional Investment Services Ltd (PIS) did not throw an end of financial year party as they have missed out on more than $15 million in advance commissions from the sale of the agribusiness managed investment schemes.

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