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dc.contributor.authorFreudenberg, Brett
dc.date.accessioned2017-05-03T11:38:47Z
dc.date.available2017-05-03T11:38:47Z
dc.date.issued2005
dc.date.modified2013-06-03T22:58:25Z
dc.identifier.issn0812695X
dc.identifier.urihttp://hdl.handle.net/10072/4642
dc.description.abstractThis article will analyse whether an asset revaluation reserve distribution made by a trustee of a discretionary trust could be regarded as ordinary income for the receiving beneficiary. This is important as normally only the capital gains tax treatment is considered, with the resultant conclusion that such a distribution is not assessable. Through this article's analysis, the accepted position that asset revaluation reserve distribution has no adverse income tax consequences for a beneficiary of a discretionary trust will be challenged. In particular, it will be submitted that the receipt of such a distribution by a discretionary beneficiary could be assessable as ordinary income. The article will initially consider whether an asset revaluation is ordinary income for the trust estate itself. Then the conduit theory's application to asset revaluation reserve distributions by trustees of discretionary trusts will be considered. Following this analysis, the article will consider whether the receipt of an asset revaluation reserve distribution is ordinary income for the beneficiary of a discretionary trust.
dc.description.peerreviewedYes
dc.description.publicationstatusYes
dc.format.extent196012 bytes
dc.format.mimetypeapplication/pdf
dc.languageEnglish
dc.language.isoen_US
dc.publisherTaxation Institute of Australia
dc.publisher.placeSydney
dc.publisher.urihttp://www.taxinstitute.com.au/publications/australian-tax-forum
dc.relation.ispartofstudentpublicationN
dc.relation.ispartofpagefrom3
dc.relation.ispartofpageto40
dc.relation.ispartofissue1
dc.relation.ispartofjournalAustralian Tax Forum
dc.relation.ispartofvolume20
dc.rights.retentionY
dc.subject.fieldofresearchAccounting, Auditing and Accountability
dc.subject.fieldofresearchPolicy and Administration
dc.subject.fieldofresearchLaw
dc.subject.fieldofresearchcode1501
dc.subject.fieldofresearchcode1605
dc.subject.fieldofresearchcode1801
dc.titleAre asset revaluation reserve distributions ‘ordinary income’ for discretionary beneficiaries?
dc.typeJournal article
dc.type.descriptionC1 - Articles
dc.type.codeC - Journal Articles
gro.rights.copyright© The Author(s) 2005. The attached file is reproduced here in accordance with the copyright policy of the publisher. For information about this journal please refer to the journal’s website or contact the author.
gro.date.issued2005
gro.hasfulltextFull Text
gro.griffith.authorFreudenberg, Brett D.


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