Webb Martin Consulting - Expert Tax Advice

The uncertainty that the ATO has injected into the issue of whether a discretionary trust can stream classes of income to different beneficiaries has suffered a blow. The recent Supreme Court decision in Thomas, has clarified this uncertain position and concluded that franking credits: appear to be an accretion to the trust fund, and something [...]

At last we know a little of what the Commissioner thinks and doesn’t think, and a lot of what he does not know (yet) what to think in relation to the High Court’s decision in FCT v Bamford and also on the broader issue of taxing income received by trust beneficiaries. He has done this [...]

<Click here> to download PDF version. 1.0       Introduction The Kevin Rudd led Federal Labour Government handed down its third Budget on Tuesday 11 May 2009.  The Government has committed to a range of measures in the area of taxation.  Some of these measures will be introduced immediately into parliament.  Others will be introduced in due [...]

The much anticipated Henry Review of the Tax System and the Government’s response there-to will soon be released. To ensure you are immediately across the key implications of the Henry Review, Neil Jones, Director of TaxBanter, widely recognised as one of Australia’s leading tax trainers, will be presenting his expert analysis of the review – live and online (including an [...]

The High Court (“HC”) has dismissed both the Commissioner’s and taxpayers’ appeals from the Full Federal Court (“FFC”) in a unanimous decision.   The FFC’s decision was analysed in the October 2009 edition of this newsletter <click here>.   Section 97(1) ITAA relevantly provides:   ” … where a beneficiary of a trust estate who [...]