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Who would be a trustee?

Published on 01 Aug 10 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

A Queensland court has made trustees personally liable for unpaid tax debts. In Barkworth Olives the trustee had to pay tax on $71 million income which had been derived, but not actually received. The court held that the s 254 limitation on trustee liability is overridden by the general charging
provisions of the ITAA. This decision should be noted by all trusts with unpaid tax liabilities.

Author profile:

John Hyde Page FTI
John works for MTax. Current at 01 August 2010 Click here to expand/collapse more articles by John HYDE PAGE.
 
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