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Administration of trusts for SME clients presentation
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 presentation 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.
Author profiles
Ronald Jorgensen CTA
Ron Jorgensen, CTA, 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 Law Institute of Victoria and The Tax Institute. Ron is a member of the Tax Technical Committee (Vic), a member and former chair of the States Taxes Committee (Vic) and former representative of the Victorian State Taxes Consultative Council for The Tax Institute. Ron is a member of the Property Council of Australia Tax Committee (Victorian Division). Ron was recognised by Doyle’s Guide as a Recommended Tax Lawyer for 2015, 2016, 2017 and 2018 and as a Leading Tax Lawyer for 2020 and in Best Lawyers Australia 2021. - Current at 16 December 2020Daniel Smedley CTA
Daniel enjoys solving complex taxation and trust law issues for private enterprise clients. He is also a trusted confidant in planning the succession of his client’s personal and business affairs. Daniel is a Chartered Tax Advisor with The Tax Institute, accredited as a specialist in Taxation Law with the Law Institute of Victoria, and the principal author of the Trust Structures Guide published by The Tax Institute. Since 2016, Daniel has appeared in the list of one of Australia's “Best Lawyers of the Year” in the practice of tax law. The list is compiled by Best Lawyers and published in the Australian Financial Review. Daniel has also been recognised in Doyles Guide as a recommended tax lawyer since 2016. Daniel is a regular presenter at state and national industry conventions, conferences and workshops. - Current at 22 October 2019
This was presented at 24th National Convention 2009 .
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