The taxation of capital gains in trusts after Bamford a critical evaluation of the streaming regime in subdivision 115-C ITAA97 Sonali Walpola
By: Walpola, Sonali
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Material type: 
ArticlePublisher: 2020Subject(s): FIDEICOMISO | TRUSTS | PLUSVALIAS | IMPUESTOS | AUSTRALIA
In:
Australian Tax Forum: a journal of Taxation Policy, Law and Reform v. 35, n. 3, 2020, p. 314-350Summary: The streaming regime in Subdivision 115-C ITAA97, which was enacted after the High Court’s decision in Commissioner of Taxation v Bamford (2010) 240 CLR 481 (‘Bamford’), is an integral component of the taxation of trusts in Australia. The main purpose of the 2011 measures was to ensure that the streaming of capital gains (as well as franked distributions) to specific beneficiaries would be effective for tax purposes as the Government had assumed that the ‘proportionate approach’, which was confirmed in Bamford, necessarily implied an inability to stream particular categories of income.
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| Artículos | IEF | IEF | OP 1867/2020/3-3 (Browse shelf) | Available | OP 1867/2020/3-3 |
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| OP 1867/2020/3 Australian Tax Forum: a journal of Taxation Policy, Law and Reform | OP 1867/2020/3-1 Solving subdiv 360-A’s 'affiliate’ problem | OP 1867/2020/3-2 The single entity rule | OP 1867/2020/3-3 The taxation of capital gains in trusts after Bamford | OP 1867/2020/3-4 Regulating a new phenomenon | OP 1867/2020/3-5 Getting the priorities right | OP 1867/2020/3-6 Voluntary tax disclosures and corporate tax avoidance |
Resumen.
The streaming regime in Subdivision 115-C ITAA97, which was enacted after the High Court’s decision in Commissioner of Taxation v Bamford (2010) 240 CLR 481 (‘Bamford’), is an integral component of the taxation of trusts in Australia. The main purpose of the 2011 measures was to ensure that the streaming of capital gains (as well as franked distributions) to specific beneficiaries would be effective for tax purposes as the Government had assumed that the ‘proportionate approach’, which was confirmed in Bamford, necessarily implied an inability to stream particular categories of income.
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