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When is a benefit from a trust not a fringe benefit? When it’s an “ownership” benefit


When a corporate trustee of a trust provides a benefit to a director who is a beneficiary of the trust, it can sometimes be difficult to determine in what capacity that benefit is received. For example, where a corporate trustee of a trust owns and operates a business, the director of the corporate trustee works in the business, the director is a beneficiary of the trust and the director receives a benefit from the trust, does the director receive that benefit in their capacity as an employee, a director, a beneficiary or as an “owner”?

Author profile

Philip Broderick CTA
Phil Broderick, CTA, is a principal of Sladen Legal and heads its Superannuation team. He is member of a number of superannuation-related committees. This includes being the chair of The Tax Institute’s Superannuation Committee and the chair of SISFA’s Technical Committee. He is also a member of number of the ATO’s superannuation liaison groups, including the Superannuation Industry Relationship Network (SIRN) and the Superannuation Industry Stewardship Group (SISG). He is also heavily involved in liaising with Treasury and the ATO in relation to the implementation of new superannuation laws and administrative practices. Phil is listed in the 2020 Best Lawyers for Superannuation Law in Australia. Phil’s areas of practice include superannuation, estate planning and succession, duties and state taxes, trusts, federal tax and business structuring. He is a regular author and presenter. His articles have featured in The Tax Institute’s Taxation in Australia journal and CCH’s Super News. He has presented at seminars and conferences conducted by The Tax Institute, the Television Education Network, Legalwise and various accounting bodies. - Current at 02 July 2020
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