Published on 23 Aug 12
by WESTERN AUSTRALIAN DIVISION, THE TAX INSTITUTE
1 July 2013 is the proposed commencement date for changes to flow from Treasury’s review of Div 6 of ITAA36. There is no clear “front runner”. A further Treasury policy paper is expected shortly providing greater details as to the “proportionate within class” and “trustee assessment and deduction” models, referred to in the November 2011 Treasury consultation paper.
This paper provides an update on the progress of the review and commentary on the latest Government and Treasury announcements, and also practical guidance as to the likely legislative changes:
- What the taxation of trusts landscape may look like in the not too distant future
- Amendments that might be required to your client’s trust deeds
- Trustee distribution.
Jonathan is a former National President of the Taxation Institute of Australia and has extensive knowledge of State and Federal taxation legislation. Jonathan was appointed by the WA Treasurer, the Hon Eric Ripper, to chair the Reference Committee of the recently concluded State Tax Review, intended to build upon tax reforms arising out of the 2001-2003 Business Tax Review.
Current at 21 September 2007 Current at 29 August 2007
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