Abstract
This article reviews the recent decision of the Full Federal Court of Australia concerning the streaming of franking credits on franked dividend distributions made by trustees to beneficiaries of a discretionary trust. The article also canvasses the decision of the Supreme Court of Queensland, which addressed the validity of trustee resolutions to facilitate the allocation of the franking credits. The author suggests that it is time for reform of the law relating to trust distributions of franking credits to beneficiaries.
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