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Family trusts may seek $1b in tax refunds after landmark decision

Summary by Australian Financial Review
Family trusts incorrectly penalised by the Australian Tax Office should act now to lodge objections, lawyers say.

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Australian Financial ReviewAustralian Financial Review

Family trusts may seek $1b in tax refunds after landmark decision

Family trusts incorrectly penalised by the Australian Tax Office should act now to lodge objections, lawyers say.

·Sydney, Australia
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LawyerlyLawyerly

Landmark ruling to upend tax office's practice of treating UPEs as loans

Save (0) Please login to bookmarkClose Username or Email Address Password Remember Me An appeals court has found that an unpaid present entitlement to a corporate beneficiary is not a loan under tax law, upending the ATO’s longstanding practice of treating UPEs as part of a trustee’s assessable income. Subscribe to Lawyerly to access this article.Already a subscriber? Username or Email Address Password Remember M…

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Lawyerly broke the news in on Thursday, February 20, 2025.
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