Current issues relating to trusts Division 6C and MITs paper
Published on 19 Feb 14
by NEW SOUTH WALES DIVISION, THE TAX INSTITUTE
This paper covers:
- taxing the trustee of a transparent trust – the current rules:
- how and when does the Tax Act assess trustees for tax liabilities of the trust?
- collecting tax from the trustee
- absolute entitlement- taxing the trustee or the beneficiary
- assessing trustees where there has been a resettlement of a trust
- which trustee to collect from where there is a change of trustee?
- collecting taxes from a trustee in liquidation
- withholding taxes.