The Commissioner has appealed to the Federal Court against the decision in AAT Case [2014] AATA 342, Re Moignard and FCT. The AAT had held that an individual taxpayer who was the controller of several trusts through which he operated a winemaking business, and who was also a beneficiary of the trusts, was not presently entitled to an amount of over $480,000 in profit that one of the trusts made from the sale of business premises.
[LTN 125, 2/7/14]