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dc.contributor.authorFreudenberg, Brett
dc.contributor.authorMcDermott, Peter
dc.date.accessioned2017-05-03T11:38:43Z
dc.date.available2017-05-03T11:38:43Z
dc.date.issued2005
dc.date.modified2007-03-19T21:43:05Z
dc.identifier.issn0311094X
dc.identifier.urihttp://hdl.handle.net/10072/4641
dc.description.abstractIt is the present practice that asset revaluation reserve distributions by trustees of discretionary trusts are not taxed in Australia. Are such distributions not meant to be taxed, or have relevant sections in the Income Tax Assessment Acts been overlooked? This article will review how trustees of discretionary trusts perform asset revaluation reserve distributions, and then raises the possibility that challenges the current accepted view that they can be distributed tax-free to discretionary beneficiaries by analysing relevant CGT events, which the authors regard as forgotten events. It will be submitted that a discretionary beneficiary in receipt of an asset revaluation reserve distribution may have a capital gain which is required to be included in its assessable income. This liability for tax is regardless of the government's recent introduction of s 109XA to address the practice of asset revaluation reserve distributions bypassing the operation of Div 7A of the ITAA 1936's operation with such distributions
dc.description.peerreviewedYes
dc.description.publicationstatusYes
dc.languageEnglish
dc.language.isoen_AU
dc.publisherThomson
dc.publisher.placeNSW
dc.relation.ispartofstudentpublicationN
dc.relation.ispartofpagefrom67
dc.relation.ispartofpageto87
dc.relation.ispartofissue2
dc.relation.ispartofjournalAustralian Tax Review
dc.relation.ispartofvolume34
dc.rights.retentionY
dc.subject.fieldofresearchApplied Economics
dc.subject.fieldofresearchAccounting, Auditing and Accountability
dc.subject.fieldofresearchLaw
dc.subject.fieldofresearchcode1402
dc.subject.fieldofresearchcode1501
dc.subject.fieldofresearchcode1801
dc.titleThe Forgotten CGT events: Are asset revaluations reserve distributions by trustees of discretionary trusts capital gains?
dc.typeJournal article
dc.type.descriptionC1 - Articles
dc.type.codeC - Journal Articles
gro.date.issued2005
gro.hasfulltextNo Full Text
gro.griffith.authorFreudenberg, Brett D.


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    Contains articles published by Griffith authors in scholarly journals.

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