The ATO on Wed 5.3.2014, issued ATO ID 2014/10 (Entitlements to franking credits in an employee remuneration arrangement: Commissioner’s discretion). The ID deals with the following: Is the conclusion that a beneficiary of a unit trust cannot satisfy the qualification period in the former s 160APHO of the ITAA 1936 a relevant matter for the Commissioner to consider in exercising the discretion to treat the unit holder’s interest as vested and indefeasible under former para 160APHL(14)(c) of the ITAA 1936? The ID says no.

[LTN 43, 5/3/14]