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Tax File Number Withholding Arrangements to Closely Held Trusts including Family Trusts

Published on 16 Feb 10 by THE TAX INSTITUTE

The Taxation Institute of Australia (Taxation Institute) is pleased to provide comments in relation to the exposure draft Exposure Draft Legislation Extending the Tax File Number Withholding (TFN Withholding) Arrangements to Closely Held Trusts including Family Trusts.

The Taxation Institute notes that the "mischief" intended to be addressed by the legislation as announced by Senator Sherry is to alleviate issues the Australian Taxation Office (ATO) has in matching data between Trust distributions and their beneficiaries.

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TAXATION INSTITUTE OF AUSTRALIA

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