Effective trust distributions: get them right paper

Published on 27 May 08 by NEW SOUTH WALES DIVISION, THE TAX INSTITUTE

Recent case decisions have highlighted pitfalls in trustee distribution resolutions. They have also introduced uncertainty into the meaning of the term "income" in the context of trust distributions. Further, the ATO's published guidelines on trust distributions require careful consideration when making trustee resolutions. This paper examines:

• the review of trust deeds: what should be checked to ensure that trust distribution resolutions are correct?
• present entitlement: why is this vital when preparing trust distribution resolutions?
• meaning of the term "income": how do current views of the meaning of "income" affect trustee resolutions?
• practical distribution resolutions: for practical purposes, how should distribution resolutions be drafted?
  

Author profile

Neil Wickenden CTA

Neil is Senior Tax Partner with the New South Wales partnership of HLB Mann Judd, an Australasian group of chartered accounting firms. Neil’s practice involves advising on all aspects of income tax, fringe benefits tax, and goods and services tax law to a range of clients. He also provides specialist tax support to a number of smaller accounting practices. He is a member of The Tax Institute among other professional bodies and is a former New South Wales State Chairman of The Tax Institute. - Current at 30 August 2017

More by Neil WICKENDEN

• At death - What are the tax issues? paper - 19-February-2013
• Blackhole, leasing issues, etc. paper - 23-August-2006
• Blackhole expenditure amendments: will blackholes still exist? paper - 11-May-2006
• PSI - Provisions Update seminar paper - 24-June-2003
• Future clearer for taxation of trusts - 01-June-2003
• Payments to Associated Persons seminar paper - 09-May-2003
• Year end tax issues - getting them right - 11-June-2002
• Non Cash and Part Cash Transactions - 29-August-2001
• Division 17B: capital gains tax relief on retirement - 18-February-1998
• Contractors: commentary on paper by Martin Keating - 22-May-1997
• Current trading stock issues - 01-January-1991

Click here to expand/collapse more articles by Neil WICKENDEN.