Bamford in the High Court of Australia: Short and Sweet

In a very short time and judgment, the High Court has disposed of the appeals of both the Commissioner of Taxation and the taxpayers in Commissioner of Taxation v Bamford [2010] HCA 10, confirming in a joint judgment the decision of the Full Federal Court. The judgment, which was awaited with both expectation and some trepidation, will be welcomed as generally confirming long standing tax practices in both public unit trusts and private family discretionary trusts. For our full Tax Brief - click here