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Keeping Modern Trusts Relevant: Getting trust distributions right after Bamford & Cajkusic

Published on 17 Aug 2010 | Took place at Ernst & Young, Brisbane, QLD

This event explained the uncertainties about calculating net income and trust income following the decisions in Bamford and Cajkusic. It looked at a number of hard issues currently plaguing practitioners about trust distributions, using practical examples, and considered:

  • the differences between taxable and trust income and the problems they cause
  • Zeta Force and the proportionate view
  • problems caused by the proportionate view
  • income clauses and the ability of the trustee/trust deed to determine what is “trust income”
  • the Commissioner’s view (including PSLA 2010/1) and Bamford’s case.

Individual sessions

Keeping modern trusts relevant: Getting trust distributions right after Bamford and Cajkusic

Author(s):  Michael BUTLER This paper covers:

  • differences between taxable & trust income and problems they cause - explanation and examples
  • problems caused by proportionate view: recipient may not pay appropriate tax and no trust income
  • ways to resolve this problem: income clause and ability of trustee/trust deed to determine what is "trust income"
  • Commissioner's view and Bamford's case
  • situation post Bamford: practical examples.
Materials from this session: