Published on 01 Jun 10
by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE
The High Court has now decided that a beneficiary 'share of the income of the trust estate' under section 97 is to be determined under the proportionate approach and 'the income of the trust estate' is its income according to trust principles. This paper deals with the decision, the issues still to be resolved and the need for legislative reform.
Terry, QC, CTA, is a Barrister at Chancery Chambers. He practises at the Victorian Bar in revenue law, trust and superannuation law, corporations law and commercial law, and has appeared for both taxpayers and the Commissioner in the High, Federal and Supreme Courts. Terry is a member of the Taxation Committee of the Business Section of the Law Council of Australia, a member of the Melbourne Law Masters Tax Advisory Board at the University of Melbourne (where he lectures in the LLM program), the Bar's representative on the School of Law Program Advisory Committee of Victoria University and a frequent presenter at state and national conferences of The Tax Institute and other professional bodies. Terry was appointed Special Counsel to the ATO from 2008 until 2010.
- Current at
12 January 2017