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19 Jul 10 Decision Impact Statement - Darrelen

The ATO has published a Decision Impact Statement in relation to the Full Federal Court decision in Darrelen Pty Ltd, Trustee of the Henfam Superannuation Fund v FCT [2010] FCAFC 35; 2010 ATC 20-180.

The case concerned the construction of former s 273(2) of ITAA1936, which treated private company dividends received by a complying superannuation fund as "special income", and therefore taxed at the top marginal rate, unless the Commissioner, having regard to the factors specified in paragraphs (a) to (f) of that subsection, considered it reasonable to not do so. The Full Court held that the AAT did not err in deciding that the discretion in s 273(2) should not be exercised. The Commissioner accepts the Court's view on this issue.


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