From www.abl.com.au: ‘On 19 February 2025, the Full Court of the Federal Court, handed down its much anticipated decision in Commissioner of Taxation v Bendel [2025] FCAFC 15 (Bendel Decision).’

The Full Court unanimously dismissed the Commissioner’s appeal and ruled that an unpaid present entitlement owed by a trustee to a corporate beneficiary does not constitute a “loan” or a deemed dividend.

This article includes an overview of the background, arguments behind the decision, the decision itself and the implications.