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On 6 June 2012, the ATO issued Taxation Determination TD 2012/11 entitled "Income tax: capital gains: for the purposes of s 115-228(1) of ITAA 1997, can a beneficiary of a trust estate be reasonably expected to receive an amount of a financial benefit referable to a capital gain made by the trust estate in an income year if the fact that the capital gain was made is not established until after the end of the income year?"

It was previously released in draft form as TD 2012/D2.

The answer given is "Yes, it is possible (depending on the circumstances)...The reasonable expectation requirement is directed to the future receipt by the beneficiary of an amount referable to the gain should it arise, not to the likelihood of the gain itself being made."


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