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Tax and Trusts: The Essentials

Published on 29 Mar 2011 | Took place at The Grace Hotel, Sydney, NSW

The number of trusts used in Australia continues to grow at a tremendous pace. This is mainly because of the flexibility of trusts and the tax advantages and the potential benefit of asset protection that they provide.

The tax and asset protection advantages can only be obtained if practitioners have a fundamental understanding of the way in which trust law operates. To ensure you obtain the available tax benefits, for example, small business CGT concessions and splitting income, you need a good knowledge of taxation laws as they relate to trusts. Moreover, the avoidance of unwanted tax burdens involves the exercise of skill and expertise in the taxation of trusts. The starting point to develop these skills is a proper understanding of the nature of trusts and having an overall “big picture” of the taxation issues.

This event covered an introduction to basic trust law concepts. It also covered a basic understanding of tax law concepts and led onto the more specialised materials in the Trusts Roadshow program to be held later in the year.

Get a 20% discount when you buy all the items from this event.

Individual sessions

Introduction to trusts

Author(s):  Arlene MACDONALD

This paper covers:

  • the nature of a trust
  • differences between trusts and other relationships and entities
  • types of trusts
  • creating and ending express trusts
  • advantages and disadvantages of using trusts for business and investment purposes
  • importance of distributions.
Materials from this session:

Introduction to taxing of trusts

Author(s):  Arlene MACDONALD

This paper covers:

  • taxing income of a trust
  • CGT matters
  • special types of beneficiaries
  • special types of trusts.
Materials from this session: