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For Accountants - Reviewing & Updating Your Client's Trust Deed

Published on 16 Nov 2011 | Took place at The Tax Institute, Sydney , NSW

Do you have clients with trust deeds that were drafted and executed in the 1980s, 1970s or earlier? Have you recently reviewed these deeds? In recent years the Tax Office has significantly increased its understanding of Trust Law and it is therefore crucial that accountants have deeds that operate as originally intended.

This event was pitched at the SME adviser, and provided help for accountants that are reviewing their client’s trust deed including:

  • the basics: Eligible beneficiaries, control of the trust, authorised transactions
  • key clauses
  • resettlements
  • accumulate, pay and/or apply clauses and present entitlement
  • issues arising from Tax Laws Amendment (2011 Measures No 5) Act 2011 including specific entitlement
  • trustee resolutions
  • key issue checklists.

Individual sessions

Trusts

Author(s):  Tristan WEBB

This paper covers:

  • pre-commencement issues
  • conducting the review
  • reactive reviews.
Materials from this session: