Published on 22 Jul 03
by VICTORIAN DIVISION, THE TAX INSTITUTE
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.
Terry Murphy QC, CTA, has focussed on advising and appearing for taxpayer and revenue authorities in the Federal Court and High Court and in alternative dispute resolution for over 30 years. He was appointed to be the Special Counsel to the Australian Taxation Office from 2008 to 2010, is a member of Taxation Subcommittee of the Law Council, Chair of the Tax Group Advisory Board, and a Senior Fellow of the University of Melbourne Law School.
- Current at
03 August 2017