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Critical Principles of Trust Law for Tax Advisers seminar paper


This seminar paper covers the following topics:
- identifying the trust - what it is and what happens if the deed is lost
- identifying the interests, rights and obligations of the parties
- identifying and dealing with corpus, income and hybrid beneficiaries
- dealing with the trust fund
- dealing with the income - the ramifications of Richardson
- the importance of differentiating tax income and accounting income
- entitlement and present entitlement
- distinguishing vested and defeasible interests
- resettling a trust.

Author profile

Terrence Murphy QC, CTA
Terry, QC, CTA, is a Barrister at Chancery Chambers. He practises at the Victorian Bar in revenue law, trust and superannuation law, corporations law and commercial law, and has appeared for both taxpayers and the Commissioner in the High, Federal and Supreme Courts. Terry is a member of the Taxation Committee of the Business Section of the Law Council of Australia, a member of the Melbourne Law Masters Tax Advisory Board at the University of Melbourne (where he lectures in the LLM program), the Bar's representative on the School of Law Program Advisory Committee of Victoria University and a frequent presenter at state and national conferences of The Tax Institute and other professional bodies. Terry was appointed Special Counsel to the ATO from 2008 until 2010. - Current at 12 January 2017
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Critical Principles of Trust Law for Tax Advisers

Author(s):  Terry MURPHY

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