Federal Commissioner of Taxation v Carter (2022) HCA 10: a game changer for taxation of trust distributions in Australia?

Mak, Charles Ho Wang

Abstract

In Federal Commissioner of Taxation v Carter, the High Court of Australia asked to clarify the meaning of 'is presently entitled' under section 97(1) of the Income Tax Assessment Act. This case is a significant example of the High Court dealing in recent years with the issue of whether the present entitlement of a beneficiary under section 97(1) of the Income Tax Assessment Act must be determined immediately prior to the end of the income year. The article attempts to provide a high-level overview of this case and how this case can impact taxation of trust distributions.

Citation

MAK, C.H.W. 2022. Federal Commissioner of Taxation v Carter (2022) HCA 10: a game changer for taxation of trust distributions in Australia? Trusts and trustees [online], 28(9), pages 886-890. Available from: https://doi.org/10.1093/tandt/ttac098

• Journal Article Type: Article
• Acceptance Date: Sep 13, 2022
• Online Publication Date: Sep 27, 2022
• Publication Date: Nov 30, 2022
• Deposit Date: Jun 12, 2023
• Publicly Available Date: Sep 28, 2024
• Journal: Trusts and trustees
• Print ISSN: 1363-1780
• Electronic ISSN: 1752-2110
• Publisher: Oxford University Press
• Peer Reviewed: Peer Reviewed
• Volume: 28
• Issue: 9
• Pages: 886-890
• DOI: https://doi.org/10.1093/tandt/ttac098
• Keywords: Taxation; Trusts; Australia
• Public URL: https://rgu-repository.worktribe.com/output/1987356