News

ING closes popular Diversified Yield Fund

Tuesday 24th of January 2006
The ATO last year issued an “interpretive” ruling that declared that if a trust does not distribute the income derived by the trust, the trust will be taxed on that income.

ING argued against that ruling and it still says the ruling runs against the declared intent of the current legislation in Australia.

However just before Christmas the ATO indicated that it is standing by its ruling – a...

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