Published on 01 Oct 09
by "THE TAX SPECIALIST" JOURNAL ARTICLE
The special rules in Div 6 of Pt III of the Income Tax Assessment Act 1936, which govern the taxation of the taxable income from a trust estate, are deficient in two major respects: key provisions are ambiguous and they are based on the outmoded concept that the taxable income of the trust estate follows the income of the trust estate. Regardless of what their settled meaning may ultimately be, only legislative change can eliminate the practical difficulties that arise where trust income and taxable income are materially different.
Current at 27 May 2009
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