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21 Jan 13 Taxpayer's appeal on substituted bonus payments dismissed - Sent

The Full Federal Court (Edmonds, Emmett and Rares JJ) has dismissed the taxpayer's appeal from the decision of Murphy J in Sent v FCT [2012] FCA 382 (16 April 2012), who had held that a payment to an executive share trust on behalf of the taxpayer, the managing director of a public company, in connection with the cancellation of his bonus entitlements (accrued, accruing and yet to accrue) was ordinary income and wholly assessable to the taxpayer.

Sent v FCT [2012] FCAFC 187 (Full Federal Court; Edmonds, Emmett and Rares JJ; 19 December 2012).


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