Published on 01 Aug 09
by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE
The Full Federal Court recently handed down its judgment in Bamford v Commissioner of Taxation  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.
Current at 07 December 2011
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