The taxpayer has lodged an application for special leave to appeal to the High Court against the Full Federal Court decision in SCCASP Holdings as trustee for the H&R Super Fund v FCT [2013] FCAFC 45. The Full Federal Court had upheld an earlier finding that a resolution to distribute a id=”mce_marker”4m capital gain from a family trust was “special income” derived by a self-managed superannuation fund (SMSF) under former s 273(6) of the ITAA 1936, notwithstanding that the amount was not actually received by the SMSF.
[LTN 109, 7/6/13]
[2013] FCAFC 45 – Catchwords
INCOME TAX – appeal from dismissal of an appeal from an objection decision made by the Commissioner of Taxation – disallowance by Commissioner of objection against amended assessment – applicant trustee of complying superannuation fund – income of trust applied to superannuation fund pursuant to trust instrument – whether income including statutory income not “derived” pursuant to s 273(6) of the Income Tax Assessment 1936 (Cth) unless actually received, or applied or dealt with in any way on behalf of, or in accordance with directions of, taxpayer.