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Family Trust Elections Revisited

Published on 09 Jun 2004 | Took place at Leonda by the Yarra, Hawthorn, VIC

The ATO's recently announced amnesty gives all tax practitioners one last chance to get their clients' family trust elections right going all the way back to 1995. All tax practitioners should therefore be reviewing their clients' family groups and considering whether elections have been missed out.

These seminar materials comprehensively deal with everything you need to know and consider about making family trust and interposed entity elections, up to and including the ATO's election amnesty and the 2004 Federal Budget announcement on family trust elections.

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

Individual sessions

Why Elect?

Author(s):  Clive BIRD This paper addresses the need for family trust and interposed entity elections when there are:
- trust losses
- company losses
- franked dividends to distribute.

Materials from this session:

The Election Downsides - the 'so what' factor

Author(s):  Chris WOOKEY This paper addresses the problems with making elections, including:
- family trust distribution tax exposures
- inability to revoke elections
- part-elected groups.

Materials from this session:

How do I make an election?

Author(s):  Noel BEHARIS This paper addresses the administrative issues with elections including:
- meeting the family control test
- picking a test individual
- when to make an interposed entity election
- how to make an election
- making both an FTE and an IEE for one trust.

Materials from this session:

Elections for Superannuation Funds & Unit Trusts

Author(s):  Daniel BUTLER This paper addresses election issues unique to SMSFs and unit trusts, and when and why they should or shouldn't make elections including:
- when does a SMSF have to make a FTE and/or an IEE?
- when does a unit trust or other entity that a SMSF has invested in have to make a and/or an IEE?
- what are the ATO's views on these issues - we will closely examine several relevant ATO IDs.

Materials from this session:

Recent Developments - Amnesty & Federal Budget announcement

Author(s):  Andrew O'BRYAN This paper addresses opportunities and issues following the new ATO amnesty and 2004 Federal Budget announcement, including:
- how far back you can elect
- eligibility
- the amnesty deadline
- lodgment issues
- risks for your clients.

Materials from this session: