Published on 13 Nov 2008
| Took place at Kooyong Tennis Club, Kooyong
It's a struggle at the best of times to be satisfied that a trust resolution will stand up to scrutiny when challenged. The courts still haven't finally resolved the problem if there is a difference in taxable income, and the outcome will always turn on the trust resolution; but who has time to read every trust deed anyway? This event gave delegates practical guidance through the use of trust deed extracts to guide practitioners on what to look for in trust deeds and how to draft resolutions that can withhstand ATO scrutiny.
Getting trust distributions right!
Author(s): Nabil (Bill) F. OROW
This paper explains in plain and practical terms:
the present controversy involving trusts and distributions of income
what happens when trust income and tax income aren't equal
why reading a trust deed is critical to ensure that the distribution is legally effective
sample extracts from trust deeds and sample minutes to effect valid distributions of trust income
why you need to get it right - the distinction between income and capital distributions
why "failsafe" clauses in trust deeds can be an effective way of dealing with disputed trust distributions