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Taxation of closely held trusts

Published on 20 Mar 2014 | Took place at Bentleys, Sydney, NSW

The tax rules for trusts have undergone significant change recently, through both legislation and case law developments, and it is important for practitioners with trust clients to be aware of these developments.

This session brought participants up-to-date with the current rules with a special focus on the pitfalls and opportunities under those rules (e.g. requirements for successful streaming of gains, creation of beneficiary entitlements), and will also address potential changes that are proposed and those that are being developed, aiming for “forward awareness” of the issues facing trust clients.

Individual sessions

Taxation of closely held trusts

Author(s):  Jo-anne HOTSTON

This presentation covers:

  • where are we now?
  • what are the main problems?
  • government’s temporary solution to streaming
  • Board of Taxation review of Division 7A and trusts with UPE’s
  • net (tax) income and trust (accounting) income
  • distributions of income and capital streaming legislation
  • examples.
Materials from this session: