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Trusts in transition

Published on 29 Oct 2009 | Took place at Grand Chancellor, Adelaide, SA

This event covered trusts distributions and trust cloning.

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Individual sessions

Trust cloning: Some light at the end of the tunnel

Author(s):  Marc ROMALDI This paper covers the exposure draft legislation including:

  • removal of the exception and the exposure draft provisions (including whether there is any impact on trust splitting)
  • highlighting the key requirements of the new rollover
  • outlining the differences between new and old law
  • considering any relevant stamp duty implications
  • considering the implications where a taxpayer "self-assessed" in relation to a trust restructure before the exposure draft legislation was released.
Materials from this session:

Trust distributions: The Commissioner speaks

Author(s):  Peter SLEGERS,  Andrea MELILLO This paper covers:

  • background and implications of PSLA 2009/7 and PSLA 2005/1 (GA) for discretionary trusts
  • practical approaches to dealing with discrepancies between trust income and tax net income under PSLA 2009/7
  • is streaming still possible?
  • when are amended assessments required?
  • unpaid present entitlements - can they ever be treated as loans?
Materials from this session: