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.
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 corporate restructurings, cross-border investment, property, wine and mining taxation, 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
22 February 2021