Miscellaneous 2009

Taxation of trust income following Bamford

Source: Taxation In Australia Journal Article

Published Date: 1 Aug 2009

The Full Federal Court recently handed down its judgment in Bamford v Commissioner of Taxation [2009] FCAFC 66, a case dealing with certain aspects of the taxation of trusts under s 97, Income Tax Assessment Act 1936 (ITAA36). The Bamford case considered two important issues regarding trust taxation; namely, the method by which a beneficiary’s share of the trust’s taxable income is determined and whether a trust deed can modify the “income of the trust estate” to which a beneficiary is presently entitled for tax purposes. This article examines the reasoning in the Bamford case and its effect in clarifying these aspects of the taxation of trust income.

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Miscellaneous 2009

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