The Creation of Trusts
Published on 09 Mar 2011
| Took place at Grant Thornton Auditorium, Brisbane, QLD
Trusts have a variety of uses and functions in Australia. Due to asset protection and tax planning Trusts can be seen as particularly advantageous for business operations. However, a Trust relationship can also arise due to operation of law such as liquidation of corporations. Deceased estates are treated like trusts, too. While trusts may be popular with taxpayers, the Federal government is concerned that trusts are being used to avoid tax, and has therefore introduced a number of provisions to restrict their use.
Accordingly, while trusts can be advantageous – they can also be complex as the law surrounding trusts can be convoluted, and this can be accentuated by the overlay of complex tax rules.
This event allowed those early in their tax careers a structured way to consider the potential legal and tax implications that can arise with trusts.
This event is part of the Younger Tax Practitioner Series 2011 - The Taxing of Trusts