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Sham trust distributions presentation

Published on 28 Aug 08 by VICTORIAN DIVISION, THE TAX INSTITUTE

This presentation examines the following questions in the context of the High Court decision in Raftland and what that decision means for trust practices and distributions generally:

  • do we really need the trust loss measures and other complicated tax legislation after the High Court decision in Raftland?
  • are some trust distributions simply ineffective shams under common law principles?
  • if so, who gets taxed when a sham distribution is struck down: the trustee, the other beneficiaries named in the distribution minute or the default beneficiaries?
  • do the answers to these questions depend on a better worded trust deed or trust distribution minute?

Author profile:

Author Photo - John Glover
Dr John Glover
John is a Barrister practising in Melbourne and part-time Associate Professor in the Faculty of Law at Monash University. John practised as a Barrister in the 1980s, before becoming an academic and writing Commercial Equity: Fiduciary Relationships (1995), Equity, Restitution & Fraud (2004) and over 40 book chapters and refereed journal articles. He re-signed the roll in 2005 and works in the areas of taxation, trusts and equity law. Current at 19 May 2009 Click here to expand/collapse more articles by John GLOVER.
 
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