Published on 01 May 05
by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE
On 16 March 2005, Justice Spender of the Federal Court of Australia handed down the decision of Pearson v Commissioner of Taxation. This judgment considers the operation of Div 6 in circumstances where the net income of a trust is increased after the conclusion of an income year. This is another in a series of cases where the ATO has delved in detail into the terms and procedures of trusts deeds to determine tax liabilities in relation to trust income, much to the alarm of the taxpayer.
Stephen is a Tax Consultant with Greenwoods & Freehills. Current at 01 May 2005
Click here to expand/collapse more articles by Stephen BANFIELD.