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.
Andrew O’Bryan FTIA is the Head of Taxation, Superannuation, and Family Business and Wealth
Management Practice Groups at Hall and Wilcox. Andrew provides advice on the application of a wide
range of taxation matters including income tax, FBT, CGT, tax audits, structuring and restructuring of
business and transactions, superannuation, state equivalent tax regimes, retirement planning, business
succession, estate planning, liquidations and reconstructions, and corporatisation and privatisation.
Current at 11 March 2009
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