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A stroll through the minefield presentation

Published on 30 May 06 by VICTORIAN DIVISION, THE TAX INSTITUTE

This paper reviews and gives examples of common land trust nomination problems emphasising how deceptively simple the legislation is and indetifying the hidden traps for the unwary, including:

  • Review of the land trust beneficiary nomination rules for 30 June 2006;
  • Adverse tax consequences for beneficiaries who are nominated  and the trustee's obligation to consider those consequences and to consult with a nominated beneficiary;
  • Examples of nominations for chains of trusts;
  • Rules for changing beneficiary nominations;
  • Inclusion of beneficiary land tax in the CGT cost base for land

Author profile

Michael Taylor-Sands FTI
Sue is a Partner at Clayton Utz specialising in taxation and stamp duty. She has represented a range of significant clients on the full spectrum of taxation matters including advising on transactions, international tax, general corporate tax and tax litigation. Sue has participated on various committees and consults with Treasury and the ATO on taxation issues. - Current at 02 May 2017
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This was presented at Land Tax or Land Mines? .

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A stroll through the minefield

Author(s):  Michael TAYLOR-SANDS

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