Trust
Distributions and Bamford
Last Updated June 2011
Due to the decision handed down in a High Court case (Bamford vs the Federal Commissioner of Taxation) and the Taxation Office's response to that decision, the way trusts have been operated – for taxation purposes at least – are changing.
The matters are complex for both the accounting and legal professions, and whilst some interim measures have been introduced by the Government, many aspects are far from resolved.
Accordingly, it is situation of “watch this space”.
Important
Disclaimer - Liability
limited by a scheme approved under Professional Standards Legislation.
The information contained on this Web Site may be out of date or include omissions, inaccuracies or other errors. Except as otherwise expressly provided in an agreement between you and Patison Partners, all information provided cannot be regarded as advice. You should not act solely on the basis of the material contained in this Web Site.
In no event shall Patison Partners be liable for any direct, indirect, incidental, punitive, special or consequential damages, or damages for loss of profits, revenue, data or use, incurred by you or any third party, whether in an action in contract or tort, arising from your access to, or use of, this Web Site or any other hyperlinked Web Site.
The information contained on this Web Site may be out of date or include omissions, inaccuracies or other errors. Except as otherwise expressly provided in an agreement between you and Patison Partners, all information provided cannot be regarded as advice. You should not act solely on the basis of the material contained in this Web Site.
In no event shall Patison Partners be liable for any direct, indirect, incidental, punitive, special or consequential damages, or damages for loss of profits, revenue, data or use, incurred by you or any third party, whether in an action in contract or tort, arising from your access to, or use of, this Web Site or any other hyperlinked Web Site.