Published on 12 Mar 09
by NATIONAL DIVISION, THE TAX INSTITUTE
With an increasing number of cases on trust law matters now coming before the courts, it is more important than ever for tax practitioners to ensure that they can identify and understand the relevant issues.
This paper addresses some practical matters facing SME clients in administering the modern discretionary trust including:
- the trust income, taxable income and distributable income debate
- care required if relying on PS LA 2005/1 (GA)
- streaming income with different characteristics to different beneficiaries
- creating a present entitlement in light of recent case law
- distributions of income versus appointments of income.
Ron principally consults on Commonwealth and State tax laws, tax dispute resolution and compliance enforcement. Ron specialises in trusts and trust disputes, succession and asset protection, business and investment structuring and tax sensitive commercial and property transactions. Ron is an Accredited Specialist Tax Law and member of the Tax Law Advisory Committee with the Law Institute of Victoria. He is a member of the Property and Commercial Law Committee of the Law Society of Tasmania. Ron is a Chartered Tax Advisor and member and former chair of the States Taxes Committee (Vic) of The Tax Institute. Ron was recognised by Doyle’s Guide Leading Tax Lawyer - Victoria for 2015 to 2021 and Best Lawyers for tax law - Australia 2021 and Global 2021.
- Current at
16 July 2021