Published on 18 Sep 09
by NATIONAL DIVISION, THE TAX INSTITUTE
This paper addresses some of the current challenges facing SME clients in administering the modern discretionary trust including:
- the trust income, taxable income and distributable income debate
- care required if relying on PS LA 2005/1 (GA)
- streaming income with different characteristics to different beneficiaries
- creating a present entitlement in light of recent case law
- distributions of income versus appointments of income
- family trust elections, planning issues and their role in:
- exceptions to the trust loss regime
- passing the income injection test
- distribution of franked dividends.
Harwood Andrews Lawyers
Current at October 2009
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