Peter Greensill Family Co Pty Ltd v CofT – Trustee assessed, under s98, on capital gains, distributed to a non-resident, relating to shares that were not ‘taxable Australian property’
On 28 April 2020, Thawley J decided, in the Federal Court, that the trustee of a resident discretionary trust was assessable under s 98 of the ITAA 1936 on capital gains made on the sale of shares that were not taxable Australian property which were distributed to a foreign resident. The taxpayer went on to lose…