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Trust distributions after Bamford

Published on 01 Sep 09 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

In the recent decision of Bamford V FCT, the Full Court of the Federal Court has sought to resolve two of the most contentious issues which arise in relation to the taxation of trust income; namely, the meaning of the word “share” and the meaning of the words “income for the trust estate” in s 97 ITAA36. In this article, the author considers the practical implications for taxpayers of the Full Court’s decision.

Author profile:

Ken SCHURGOTT
Ken is a tax and commercial law partner in the Sydney office of SBN Lawyers. He has extensive experience in all aspects of tax (including State taxes) as well as business structuring, asset protection, succession planning and trust and estate law. Ken is a National Councillor of the Tax Institute and a member of the NSW Divisional Council and Education Committee. He is also a member of the Advisory Panel to the Board of Taxation and has recently been involved as a member of the Working Group on Managed Investment Trusts.
Current at 13 January 2009 Current at 25 March 2009 Click here to expand/collapse more articles by Ken SCHURGOTT.
 

 

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