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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.

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Author Photo - Kenneth Schurgott CTA-Life
Kenneth Schurgott CTA-Life
Ken is a Tax and Commercial Law Director of Schurgott & Co Lawyers and Special Counsel with Brown Wright Stein Lawyers, Sydney. He has extensive experience in all aspects of tax (including state taxes and litigation), as well as business structuring, business sales and acquisitions, asset protection, succession planning and trust and estate law. Ken has been, until recently, a member of the Advisory Panel to the Board of Taxation and heavily engaged in ongoing consultation in relation to the reform of the taxation of trusts and trust issues generally. Current at 28 July 2016 Click here to expand/collapse more articles by Ken SCHURGOTT.
 
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