High Court of Australia

Federal Commissioner of Taxation v Thomas [2018] HCA 31

Federal Commissioner of Taxation v Martin Andrew Pty Ltd

Federal Commissioner of Taxation v Thomas Nominees Pty Ltd

Federal Commissioner of Taxation v Thomas

8 Aug 2018

Case Number: B60/2017 B61/2017 B62/2017 B63/2017

Before

Kiefel CJ, Bell, Gageler, Keane, Nettle, Gordon, Edelman JJ

Catchwords

Taxation – Division 207 in Pt 3-6 of Income Tax Assessment Act 1997 (Cth) – Where trustee passed resolutions purporting to distribute franking credits to beneficiaries of trust separately from and in different proportions to income comprising franked distributions – Where directions made by Supreme Court of Queensland pursuant to s 96 of Trusts Act 1973 (Q) concerning the resolutions – Whether directions determined against Commissioner of Taxation the application of Div 207.

Words and phrases – "deemed assessment", "determine conclusively", "directions", "franked distribution", "franking credit", "imputation credit", "income tax return", "judicial advice", "notice of amended assessment", "notionally allocated", "streaming", "tax offset".

Income Tax Assessment Act 1936 (Cth) – ss 95, 97.

Income Tax Assessment Act 1997 (Cth) – Div 207.

Taxation Administration Act 1953 (Cth) – Pt IVC.

Trusts Act 1973 (Q) – s 96.
PDF   RTF



PDF MD5: 2a04036906cdbaff414217d29266ed02
RTF MD5: 73926f6f74ed7f3804b0e17e0ffa6204