From www.knowledgeshop.com.au: The ATO has issued an interim decision impact statement on the Bendel case, confirming it will not change its stance on the treatment of unpaid distributions owed to corporate beneficiaries until the appeal process concludes.

Affected companies will not receive a blanket extension for lodging tax returns, and the ATO emphasizes the need for taxpayers to take individual circumstances into account to mitigate the risk of deemed unfranked dividends.

Taxpayers are advised to adopt the approach outlined in TD 2022/11 to minimize exposure to adverse tax implications regardless of the High Court’s outcome.