Re Simpson's Trust (2018) QSC

Application by the trustee of testamentary trust for judicial advice & directions from the Supreme Court of Queensland, appeared for the income beneficiary, a Victorian resident, instructed by Bradley Allen Love, Canberra.

Question concerned whether fully franked dividends should be receipted as income or capital, or apportioned, where dividend partly reflected sale of international business line, and whether Hill v Permanent Trustee Co of New South Wales [1930] AC 720 remains good law in light of Sinclair v Lee [1993] Ch 497 and Orr v Wendt & Ors [2005] WASCA 199.

>> On 22 March 2018, the matter settled at final hearing before Crow J, following cross-examination of the parties' expert accountants, approving orders apportioning the payments 60%:40% between capital and income.