Capital Gains, Discretionary Trusts and Non-residents - Greensill Case DiveArchived

For some time now, the ATO has had the view that non-resident beneficiaries of Australian discretionary trusts are still taxed on non-TAP (Taxable Australian Property) capital gains. Check out TD 2019/D6.

This Federal Court case is a showdown between the ATO and a discretionary trust challenging this view.

The ATO draws first blood - the Court held that the non-resident beneficiary could not disregard the capital gains under Division 855. The case has been appealed to the Full Federal Court. The ramifications could potentially be very significant.

Watch Doctor Tax's in-depth analysis of the case. And stay tuned for the next battle.

Transcript is in progress.