Miscellaneous Capital Gains Tax (CGT) 2020

The taxation of capital gains in trusts after Bamford: A critical evaluation of the streaming regime in subdivision 115-C ITAA97

Source: Australian Tax Forum Journal Article

Published Date: 1 Sep 2020


The streaming regime in Subdivision 115-C ITAA97, which was enacted after the High Court's decision in Commissioner of Taxation v Bamford (2010) 240 CLR 481 (Bamford'), is an integral component of the taxation of trusts in Australia. The main
purpose of the 2011 measures was to ensure that the streaming of capital gains (as well as franked distributions) to specific beneficiaries would be effective for tax purposes as the Government had assumed that the proportionate approach', which
was confirmed in Bamford, necessarily implied an inability to stream particular categories of income.

Author Profile
Sonali Walpola

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Miscellaneous Capital Gains Tax (CGT) 2020

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