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Trust distributions: Achieving the desired outcomes paper

Published on 07 May 09 by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE

The Commissioner of Taxation has demonstrated a renewed interest in trust distributions in recent years. This paper considers some of the commonly encountered issues that arise when preparing trust distribution minutes. It provides useful insights on how to achieve desired outcomes and minimise exposures in this difficult area. Topics covered include:

  • what to look for in the trust deed
  • drafting trust distribution minutes: common problems and suggested solutions
  • the tax net income and trust income debate: state of play
  • practical implications of recent cases
  • pitfalls when income streaming and the significance of PS LA 2005/1 (GA)
  • effective capital distributions.

Author profile

Peter Slegers CTA
Photo of author, Peter SLEGERS Peter heads Cowell Clarke's tax and revenue practice group. He advises and acts for a wide range of public and private companies as well as for the trustees of self managed superannuation funds. Peter’s areas of expertise include: income tax (as it impacts on business and high net worth clients); capital gains tax; goods and services tax; state taxes and superannuation law. Peter is regularly involved in advising SMSF trustees on issues associated with superannuation income streams. Peter is a member of the Australian Institute of Company Directors and the SMSF Professionals Association of Australia Ltd in addition to being a member of the Tax Institute’s South Australian State Council. - Current at 08 October 2019
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This was presented at 42nd South Australian Convention: Playing to Win .

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