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NSW Budget concessions and GST risks.

Publication date: 26 Jun 06 | Source: WEEKLY TAX BULLETIN

Issue: No. 26 2006

Pages: pp.1011-12

Abstract:
The income tax implications of the CPT Custodian decision might indicate that, contrary to conventional assumptions, at year end, unit holders are not "presently entitled" to the net income of a trust unless the trustee of the thrust (or unless there is some specific provision in the trust deed) causes those unit holders to be so"presently entitled".

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Author profile

Robert Richards
Robert practices as a solicitor specialising in providing revenue, trust, superannuation and corporate law advice to high net worth individuals, corporations, accountants, other solicitors and the bar. He is regularly involved in the carriage of tax litigation involving matters heard by the High Court (for example the Bamford matter), the Federal Court, and the Administrative Appeals Tribunal. Prior to practising as a solicitor he was a partner of an international firm of accountants. - Current at 23 October 2013
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