This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.

Bookmark Email Print page

Tax highlights

12 June 2012


DOWNLOAD  

Tax highlights, 4 June 2012In this week’s Tax highlights we feature:

  • Court cases on trusts: Two court decisions have been handed down over the past week concerning the tax treatment of trusts:
    • Greenhatch: The Full Federal Court has held that, for the purposes of the former capital gains tax (CGT) discount rules, only a proportion of the amount to which the beneficiary was presently entitled was attributable to a capital gain made by the trust
    • Hopkins: The AAT has held that the taxpayer beneficiaries were not presently entitled to the income of a trust estate because there was no evidence that a valid resolution regarding the distribution of trust income had been made by the trustee by the end of the relevant income years.
  • ATO Rulings: Several final tax determinations have been released. To note is a tax determination explaining when income tax of a private company is a ‘present legal obligation’ for the purposes of the deemed dividend rules.

Plus we provide our synopsis of the latest tax-related cases, legislative developments, announcements and ATO information and releases.

Share

 
Follow us



 

Talk to us