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Keeping modern trusts relevant: Getting trust distributions right after Bamford and Cajkusic paper

Published on 17 Aug 10 by QUEENSLAND DIVISION, THE TAX INSTITUTE

This paper covers:

  • differences between taxable & trust income and problems they cause - explanation and examples
  • problems caused by proportionate view: recipient may not pay appropriate tax and no trust income
  • ways to resolve this problem: income clause and ability of trustee/trust deed to determine what is "trust income"
  • Commissioner's view and Bamford's case
  • situation post Bamford: practical examples.

Author profile:

Michael Butler CTA
Michael is the Partner in charge of the Finlaysons Tax & Revenue Group. Michael advises domestic and foreign clients on federal, international and state tax matters, and has a special interest in mining and property taxation, corporate restructurings, international tax issues, and estate and succession planning. Michael is the Visiting Lecturer in Tax at the University of Adelaide Law School, and is a regular contributor to The Tax Institute events. Current at 19 March 2015 Click here to expand/collapse more articles by Michael BUTLER.
 
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