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.