Donkin & Ors v CofT – Beneficiaries assessable on increase in net income of trust (despite the ‘moving target’ style of trust distribution resolution)
On 22.4.20, a 10.12.19 decision of the AAT was published, deciding that the beneficiaries of a trust, who had received distributions, were assessable on the increase in the tax law ‘net income’ of the trust, resulting from deductions for various expenses being disallowed. See below for a summary of the case. [Tax Month – April…