*Sent v FCT – Bonus entitlements paid into executive share trust assessable: taxpayer loses appeal [9]
The Full Federal Court has dismissed a taxpayer’s appeal and held that the full amount of accrued and unaccrued bonus entitlements of $11.6m that were instead paid into an executive share trust on the taxpayer’s behalf had been derived by the taxpayer as ordinary income. The taxpayer was the managing director and CEO of a…