ATO Maintains Its Position on Bendel Case Amid High Court Appeal (May 25 Tax Update)

Relevant For:

Business owners using trusts with company beneficiaries.

Key Points:

• ATO retains stance from TD 2022/11 on UPEs as Division 7A loans.
• Appeal lodged against Full Federal Court’s Bendel decision.
• Taxpayers advised to review Interim Decision Impact Statement.
• No blanket lodgment deferrals; discretion possible under s109RB.

Full Article:

The Australian Taxation Office (ATO) has