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Improving the taxation of trust income

Published on 08 Apr 11 by THE TAX INSTITUTE

A summary of our position is as follows:

  • The government’s intention of removing doubt around certain aspects of the operation of Division 6 is timely and responsive.
  • We urge the government to implement an “interim solution” for the income year ending 30 June 2011. Our proposed interim solution is that the ATO’s previous administrative practice, set out in the (now withdrawn) PS LA 2005/1 and TR 92/13, should be codified in the legislation.

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