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Future of trusts – The Division 6 facelift & other developments presentation

Published on 03 May 12 by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE

This presentation covers:

  • every lawyer & accountant knows what a trust is!
  • but what about:
    • "taxable income" using proportionate & quantum methods
    • implications for trust accounts & trust returns of franking credits, discount gains & Div. 152 small business reliefs
    • "adjusted Division 6 percentages"
    • Treasury's patch, PWC & TAD models
    • trust deed "resettlements"?
  • sec. 95 "net income" vs. sec. 97 "income"
  • Treasury's proposed facelift
  • dealing with current provisions
  • tax law definition of income & TR 2012/D1
  • amending trust deeds (or working with existing terms)
  • risks of amending deeds
  • status of Commissioner's statement of principles.

Author profile

Michael Butler CTA
Michael is the Partner in charge of the Finlaysons Tax & Revenue Group. Michael advises domestic and foreign clients on federal, international and state tax matters, and has a special interest in mining and property taxation, corporate restructurings, cross-border investment, trusts, and estate and succession planning. Michael is a past chair of The Tax Institute’s South Australia State Council and a regular contributor to Institute events. - Current at 04 January 2018
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This was presented at 45th South Australian Convention .

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Individual sessions


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