The Null Device

Losses are tax-deductible

Something to keep in mind as you fill in your tax return: The Australian Federal Court has ruled that a convicted heroin dealer can claim a tax deduction for money lost during a failed drug deal.

This reminds me of something I heard many years ago: a man filled in his tax return forms, giving his profession as "burglar". The ATO allowed him to claim his burglary implements as tax deductions, but not the cost of travelling to/from the premises he robbed.

There are 1 comments on "Losses are tax-deductible":

Posted by: loulou http:// Sun Jun 8 00:56:17 2003

what posessed him to declare his drug money to the ATO in the first place??

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