Bendel – The High Court has spoken, but is this the final word on taxation on unpaid present entitlements?

The High Court of Australia has upheld the Full Federal Court’s decision that unpaid present entitlements (UPEs) from a trust to a corporate beneficiary do not, without more, constitute a loan for the purpose of section 109D(3) of Division 7A of the Income Tax Assessment Act 1936 (Cth)(1936 Act).