Marks’ Trusts & Estates: Taxation and Practice, originally written by Bernard Marks, has been fully revised and updated. This is an essential resource for any practitioner needing to understand even the most complex tax matters relating to trusts and estates.
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An excellent blend of theoretical principles and practical insights, and addressing the many challenging issues frequently encountered by lawyers, accountants and tax professionals, this text is organised around the "life cycle" of trusts and estates on a transactional basis.
With a logical structure and comprehensive coverage of both recent issues and foundation concepts, and providing detailed analysis of the new streaming provisions introduced after the decision in Bamford, the new third edition covers:
- Subdiv 115-C ITAA97 dealing with capital gains made by trusts
- Subiv 207-B ITAA97 dealing with franked dividends received by trusts
- the meaning of the concept "specifically entitled"
- the operation of the new Div 6E ITAA36 and its interaction with Div 6 ITAA36
- the operation of the new anti-avoidance provisions in Div 6
- the implications of the Greenhatch decision for streaming generally.
You’ll also find updated commentary on:
- whether a variation of a trust constitutes a termination of the trust following the decision in Clark and the issue of TD 2012/21
- the meaning of "income" in s 97 ITAA36, in light of TR 2012/D1.
The foremost tax and trusts practice text for the Australian legal and accounting professions, Marks’ Trusts & Estates: Taxation and Practice provides a practical understanding of complex tax matters, including:
- issues such as trust mergers, takeovers and demergers, trusts and income derivation, and family trusts and distribution tax;
- an explanation of, and reference source on, both tax law and trust law;
- the Commissioner’s practice, including references to all relevant private rulings
- the equity and trust law context in which the tax law operates, setting out the relevant equity and trust rules for each tax issue
- questions arising in practice, and issues often not considered when giving advice
- the potential opportunities and dangers in a given transaction affecting trusts, estates, trust creators and beneficiaries.
Annual online subscription service includes:
- 12 months of access to the online book, with updates
- interactive eLearning with reference links back to the online book (5 CPD hours).
Marks' Trusts & Estates: Taxation and Practice is also included in the Tax Knowledge eXchange online books package. Find out more here.
Edited and updated by Robert Allerdice, CTA