Bamford: Taxation of trusts clarified

In its recent decision in Bamford v Commissioner of Taxation [2009] FCAFC 66, the Full Federal Court has settled (at least at the level of the Federal Court) two issues in relation to the taxation of trusts that have been the source of debate between taxpayers and the ATO, especially in recent times when the ATO has been developing views partly at odds with the general professional understanding.  For our full Tax Brief - click here