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Trusts: Current state of play presentation

Published on 07 Nov 13 by NATIONAL DIVISION, THE TAX INSTITUTE

Although the government has proposed reforming the trust provisions, the start date for those rules is not until 1 July 2014. This presentation considers a number of difficult issues that are currently arising in practice with the recent amendments to Div 115 and 207 of the ITAA97, and the interplay between Div 6 and the deemed dividend rules in Div 7A of the ITAA36.

This presentation covers, among other things :

  • streaming in practice – what practical difficulties have arisen???
  • practical difficulties with interposed trusts in complex structures and Div 7A 
  • ??Division 7A and Part IVA – specific versus general anti-avoidance rules – can trusts be caught in the middle???
  • review of Div 7A and trust UPEs from an accountant’s perspective.

Author profile:

Author Photo - Arthur Athanasiou CTA
Arthur Athanasiou CTA
Arthur, a partner at Thomson Geer Lawyers, has many years experience in complex tax litigation and tax audit negotiations and settlements. Arthur’s main area of practice is taxation advisory, with an emphasis on dispute resolution, particularly in the SME sector, with both the ATO and the SRO. He also has broad experience in the taxation of trusts and SME entities, with an emphasis on Div 7A and high-wealth individuals and family groups. Arthur has extensive experience in all areas of direct and indirect taxation and has qualified as a Chartered Accountant. He has also held senior taxation and management positions in the transport and motor vehicle industries, with specialist experience in logistics, supply chain, chain of responsibility and contract warehousing. Arthur is the President of The Tax Institute as well as a State Councillor, and also chairs the Law Institute’s Tax Law Advisory Committee. Arthur is an Accredited Tax Law Specialist and a widely published writer on taxation issues. He regularly appears in the mainstream media, and presents at tax seminars and discussion groups. Arthur has been recognised in Doyle’s Guide 2015 as a recommended tax lawyer in Victoria. Current at 18 August 2016 Click here to expand/collapse more articles by Arthur ATHANASIOU.
 

This was presented at 21st National Tax Intensive.

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Author(s):  Vanessa PRIEST

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