11 Jun 10 Preamble - Friday, 11 June 2010The Taxation Institute's unpaid present entitlement media release of 2 June entitled 'Tax Office Ruling Could Cost Families and Small Business Hundreds of Millions of Dollars' received coverage in the Australian Financial Review on 7 June 2010: "Trusts suffer double tax blow". This coincided with the publication in the Financial Review of an opinion article from the Institute on 7 June 2010: "Trust tax change to be retrospective". This generated further public debate in the letters pages of the Financial Review over the subsequent days.
The public debate on the ATO's ruling is welcome and serves to increase the visibility of the real and strongly held views of members. We have continued discussions with Government over the effects of the ruling and will keep members informed of activities.
Please see below for details of some other highlights this week.
Robert Jeremenko FTIA