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Service entities - where to now? paper

Published on 20 Oct 06 by TASMANIAN DIVISION, THE TAX INSTITUTE

Service trusts have been a significant structuring arrangement for both practitioners and their clients for many years. This paper puts into perspective practical implications of the recent ATO ruling TR 2006/2 and will address the following:

  • service trusts
    • who should and shouldn’t have them?
    • are there still benefits in using them?
  • use of ATO safe harbour provisions - what you need to know
  • reviewing/implementing service trust agreements
  • traps in exiting service trust arrangements
    • CGT consequences
    • stamp duty issues
  • checklist for action pre 30 April 2007.

Author profiles

Andrew O'Bryan CTA
Andrew is a Partner at Hall & Wilcox Lawyers and provides advice on the application of a wide range of taxation. He has substantial knowledge of taxation and commercial practice and advises his clients on income tax, capital gains tax, tax audits and reviews, fringe benefits tax, business structuring and transactions, liquidations and reconstructions, superannuation, retirement planning, business succession, estate planning, and philanthropy. Andrew advises accounting and legal firms on their clients’ affairs. He also draws clients from industry, commerce and high-net-worth private family groups. One of his main interests is advising private business owners on the transition of management and control of family businesses to the next generation. Andrew has been recognised in the The Best Lawyers in Australia in Tax Law every year since 2014 and is a leading tax lawyer in Victoria in Doyle's Guide to the Australian Legal Profession. - Current at 12 November 2019
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Jerome Tse CTA
Photo of author, Jerome TSE Jerome is a Partner at King & Wood Mallesons, specialising in taxation disputes and litigation. Jerome advises corporate taxpayers on all aspects of Australian tax disputes from the audit and independent review stage through to High Court litigation. He also guides clients through alternative dispute resolution processes, advance pricing agreements and mutual agreement procedures. - Current at 25 October 2017
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This was presented at Tasmanian State Convention .

Get a 20% discount when you buy all the items from this event.

Individual sessions

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Author(s):  Harry M RIGNEY

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Property investment - income tax and GST issues

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Latest remuneration strategies

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Making the most of superannuation

Author(s):  Robert WATSON

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Effective strategies for using superannuation in succession planning

Author(s):  Julian BATTISTELLA

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The erosion of asset protection - is the party over?

Author(s):  Paul COOK

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