Federal Court decision last week re Bamford.
Relates to Trusts and having to pay distributions equivalent to taxable income or cash position.
Result: (from what I read) - can pay divvy based on cash position based on trust deed. Could be appealed by ATO if they desire.
AFR article today - p54
BJT (Babcock Japan trust) has already announced will give different distribution guidance after having already announced would pay a particlar divvy in cash and scrip.
Anybody know if this decision means that taxable income cna be wihtheld without penalty taxes .. (and therefore used ot pay down debt)?
Any comments on the likely effect of this? for CER?
truesouth
DYOR
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- bamford decis'n, afr article, ?effect on divvy
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