TR2022/11

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Bendel Part III: summary of the parties’ submissions

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Bendel Part III: summary of the parties’ submissions

The article explains the arguments contained in the parties’ submissions to the High Court in the appeal by the Commissioner of Taxation (Commissioner) from the Full Federal Court’s (Full Court) decision in Commissioner of Taxation v Bendel [2025] FCAFC 15 (Bendel). 

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Bendel – UPEs as loans – are the curtains closed?

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Bendel – UPEs as loans – are the curtains closed?

On 19 February 2025, the Full Federal Court, in FCT v Bendel [2025] FCAFC 15 (Bendel), held that an unpaid present entitlement (UPE) with a corporate beneficiary is not a loan under subsection 109D(3) of Division 7A of the Income Tax Assessment Act 1936 (ITAA 1936).