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Service Trusts - Dealing with the ATO Survey

Published on 17 Jun 2003 | Took place at Leonda by the Yarra, Hawthorn , VIC

The ATO has been issuing Surveys of Partnership and Service Trust Arrangements. Recipients of the Survey are required to respond within 28 days of receiving the Survey.

The survey's covering letter notes that the ATO 'has concerns about the commerciality of the arrangements including the fees paid...the way the cost base has been calculated and whether all costs have been fully recognised and the possible application of Part IVA'.

The survey seeks information on, among other things:
- the service provided to the partnership
- the structuring of the fee arrangements
- the commercial advantage to the partnership of acquiring the services from the service entity rather that an unrelated third party.

Before completing the survey you need to understand the types of arrangements the ATO will be seeking to identify and the action that it might take.

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Individual sessions

Service Trusts and the Commissioner's Current Interest

Author(s):  Frank O'LOUGHLIN This seminar paper outlines the Commissioners renewed interest in service trusts.

Materials from this session:

Service Trusts - Dealing with the ATO Survey

Author(s):  David NETTLEFOLD The widespread use of service trusts as a means of income splitting and asset protection are likely to be under close examination by the ATO, judging by a recent speech delivered by the Commissioner. This seminar paper reviews service trust arrangements, as well as those of clients, to ensure they are properly documented as well as being commercially relevant and up-to-date.

Materials from this session: