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19 Sep 08 Family Trust Election changes finally put to the sword by the House

The Taxation Institute, which has urged the Government to reconsider their decision to rollback the amendments made by the previous Government to the FTE rules (see 2008 TAXVINE No 1 (1) (18 January 2008), TAXVINE No 10 (1) (20 March 2008) and 2008 TAXVINE No 32 (2) and (13) (15 August 2008)), was pleased to see that the House of Representatives has put the issue to death by resolving to accept the Senate’s rejection of the changes (see item (10) of this edition of TAXVINE. The only issue that remains outstanding is how the Commissioner will view decisions made during the period of uncertainty, particularly given the retrospective elements of the Government’s original proposal.

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