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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.
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
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