Source: The Tax Specialist Journal Article
Published Date: 1 Aug 2021
A trust is often used for business and investment vehicles because the beneficiaries are taxed on distributions of trust income, unless accumulated by the trustee. The form of the trust, the terms of the trust instrument, the drafting of distribution resolutions, legislative restrictions and Australian Taxation Office administrative practices may alter the intended distribution effect with unanticipated tax consequences. This two-part article will discuss these issues affecting trust distributions and provide example resolutions and possible distribution methodologies to manage these issues. Part 2 of the article will consider how these issues
affect selected common and complex trust distribution transactions.
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