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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, international tax issues, and estate and succession planning. Michael is the Visiting Lecturer in Tax at the University of Adelaide Law School, and is a regular contributor to The Tax Institute events. Current at 19 March 2015 Click here to expand/collapse more articles by Michael BUTLER.
 

This was presented at 45th South Australian Convention.

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