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A Matter of Trusts

Published on 28 Oct 2004 | Took place at Christie Corporate Conference Centre, Brisbane , QLD

Trusts remain extremely popular among clients desiring tax effective and asset protective structures (and correspondingly unpopular with the regulators!) However, the changes that have occurred in the last year with respect to CGT, asset protection, loans and losses mean that it is more important than ever to refresh your knowledge in these areas to be able to advise those clients appropriately.

These seminar materials will assist you to determine whether trusts remain a viable vehicle for your clients to hold personal and business assets.

They will lead you through the complex rules and changes in a way that can be practically applied to your clients.

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

Individual sessions

Distributions from trusts

Author(s):  Brian J RICHARDS

This paper covers the following:

  • what is trust income and what is trust capital?
  • can capital become income by definition?
  • making capital distributions under the trust deed
  • satisfying entitlements to income by distributing by specie
  • CGT consequences for the trustee and beneficiary
  • accessing CGT rollover exemptions
  • GST implications of in specie distributions
  • implications of recent cases
  • accounting for trust income which is defined as 'tax law net income'.

This paper was originally presented by Brian Richards at the 'A Matter of Trusts' seminar held in Brisbane on 28 October 2004. Minor changes have been incorporated to update the paper for presentation by Mark Molesworth at the 'Trusts Intensive' seminar held in Brisbane on 28 September 2005.

Materials from this session:

Are trusts still effective for your client?

Author(s):  Harry M RIGNEY This paper covers:
- are trusts an effective asset protection mechanism?
- are trusts still a tax effective entity in which to trade or invest?
- testamentary trusts, does your client need one?
- an analysis of the impact of the proposed new bankruptcy laws
- other potential asset protection strategies
- service trust, family trust - or both?

Materials from this session:

Divisive issues and winding up

Author(s):  Peter GODBER This paper covers the following topics:
- income tax and CGT issues on vesting and termination of trusts
- accessing CGT concessions
- alternative tax effective ways to deal with your trust and its assets
- why stamp duty is so important
- dealing with special circumstances, such as family break-up or divorce.

Materials from this session:

Restructuring trusts

Author(s):  Ken SCHURGOTT This seminar paper covers the following topics:
- vesting the entire trust
- partially vesting a trust
- transferring an asset to a new trust on identical terms
- holding the trust assets as two separate funds
- splitting the trust and appointing a new trustee
- resettlements
- CGT/stamp duty.

This paper was also presented by the author at the A Matter of Trusts seminar held in Brisbane on 28 October 2004.

Materials from this session:

Division 7A and trusts

Author(s):  Matthew BURGESS,  Mark WEST We have all grappled with the amendments to Division 7A, and how those amendments impact on transactions involving trusts. This presentation is intended to illustrate in a practical way how your client can unintentionally get caught by the new provisions, and provide some effective strategies for your clients to implement.

Materials from this session: