Trust distributions after Bamford
Publication date: 01 Sep 09
Source: "TAXATION IN AUSTRALIA" JOURNAL ARTICLE
Abstract:
In the recent decision of Bamford V FCT, the Full Court of the Federal Court has sought to resolve two of the most contentious issues which arise in relation to the taxation of trust income; namely, the meaning of the word “share” and the meaning of the words “income for the trust estate” in s 97 ITAA36. In this article, the author considers the practical implications for taxpayers of the Full Court’s decision.
Author profile:
Kenneth Schurgott FTIA
Ken is a Tax and Commercial Law Partner in the Sydney office of Schurgott Noolan Pty Ltd. Ken has extensive experience in all aspects of tax (including state taxes) as well as business structuring, asset protection, succession planning and trust and estate law. He is a member of the Advisory Panel to the Board of Taxation and is presently heavily engaged in consultation in relation to the reform of the taxation of trusts.
Current at 09 May 2012
Click here to expand/collapse more articles by Ken SCHURGOTT.
Ken is a Tax and Commercial Law Partner in the Sydney office of Schurgott Noolan Pty Ltd. Ken has extensive experience in all aspects of tax (including state taxes) as well as business structuring, asset protection, succession planning and trust and estate law. He is a member of the Advisory Panel to the Board of Taxation and is presently heavily engaged in consultation in relation to the reform of the taxation of trusts.
Current at 09 May 2012
Click here to expand/collapse more articles by Ken SCHURGOTT.
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