The Australian Taxation Office has indicated a renewed interest in service trusts. You need to be fully aware of the relevant issues if the terms of your client's service trust arrangements are questioned by the ATO. This session looked at:
- the basis used to determine service charges
- 'safe harbour rules'
- whether Part IVA applies
- whether there are timing issues
- practical issues
- the impact of Board of Taxation recommendations.
In this session, Ken Schurgott referred to a session he presented at the Service Trusts seminar in Gosford on 12 March 2003:
- seminar paper
Kenneth Schurgott CTA-Life
Ken is a Tax and Commercial Law Director of Schurgott & Co Lawyers and Special Counsel with Brown Wright Stein Lawyers, Sydney. He has extensive experience in all aspects of tax (including state taxes and litigation), as well as business structuring, business sales and acquisitions, asset protection, succession planning and trust and estate law. Ken has been, until recently, a member of the Advisory Panel to the Board of Taxation and heavily engaged in ongoing consultation in relation to the reform of the taxation of trusts and trust issues generally. Current at 28 July 2016
Click here to expand/collapse more articles by Ken SCHURGOTT.