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Notes Online Home 2015 Tax Hot Spots Practitioner Issues
Taxpayers fall foul of bankruptcy claw-backs
In this section of the seminar notes we examine the recent decisions in Windoval Pty Limited v Donnelly (Trustee), in the Matter of Donnelly (Trustee) [2014] FCAFC 127 (‘Windoval’s case’) and Coshott v Prentice [2014] FCAFC 88 (‘Coshott’), including:
- Gift to family trust made (unsuccessfully) to avoid impending tax debts
- Court also confirms a bankrupt did not hold property on trust for his SMSF