CofT v The Trustee for the Michael Hayes Family Trust – Taxpayer trustee not taxed on income of subsidiary trust because that trust was taxed under Div 6C – ‘mistake’ cured & ATO loses appeal

The Full Federal Court has dismissed the ATO’s appeal against a decision that the trustee of a family trust was not presently entitled to income of another trust that was a public trading trust.

See below for a summary of the case.

[Tax Month – December 2019]