This Determination, released on Wed 6.6 2012, expresses the ATO view that it is possible (depending on the circumstances) for a beneficiary of a trust estate to be “reasonably expected” to receive a share of the net financial benefit referable to a capital gain for the purposes of s 115-228(1)(a) of the ITAA 1997 (ie the “CGT trust streaming measures”), despite the making of the capital gain not being established until after the end of the income year.
In particular, the TD states that “the reasonable expectation requirement is directed to the future receipt by the beneficiary of an amount referable to the gain should it arise, not to the likelihood of the gain itself being made”.
The TD was previously released as Draft TD 2012/D2 and is unchanged from the Draft.
[LTN 108, 6/6]