A matter of trusts: Resuscitating Service Trusts

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Published on 01 Jun 06 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

The restrictive views expressed by the Commissioner of Taxation in Ruling TR 2006/2 and the accompanying Guide has encouraged the restructure of professional partnership practices (Firms) into companies (Incorporated Practices) or partnerships of trusts to permit winding-up of Phillips service trust arrangements whilst retaining protection of the wealth generated by Firms and flexible taxation advantages.

Author profile

Ronald Jorgensen CTA

Ron Jorgensen, CTA, is a Partner at Rigby Cooke Lawyers. Ron principally consults on Commonwealth and state tax laws, tax dispute resolution and compliance enforcements, and specialises in trusts and trust disputes, succession and asset protection, business and investment structuring and tax-sensitive commercial and property transactions. Ron is an Accredited Specialist in Tax Law, a member of the Law Institute of Victoria and a respected technical writer and presenter. Ron is a fierce advocate for taxpayers. - Current at 23 May 2017

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