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  • In Division 7A, We Trust

In Division 7A, We Trust

Published on 13 Nov 2019 | Took place at Crown Perth, Burswood, WA

This event is aimed at tax practitioners who advise trustees, beneficiaries and others involved in operating trusts and who wish to keep up to date with recent developments relevant to the taxation of trusts.

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Individual sessions

Trust vesting - TR2018/6, has the ATO got it right?

Author(s):  Adam Dimac,  Andrew O'BRYAN

This paper covers:

  • vesting
  • tax and vesting, what is the ATO’s view?
  • extending the vesting day
  • when it's too late.
Materials from this session:

Family trust elections; a good idea at the time but…

Author(s):  Dudley Elliott

This paper covers:

  • family trust election: why put one in place?
  • are you a family trust?
  • interposed entity elections (“IEE”)
  • Practice Statement PS LA 2004/1 Lodgement opportunity for family trust and interposed entity elections (now withdrawn 3 Aug 2015)
  • family control test
  • family.
Materials from this session:

State taxes and trusts – Where are we now?

Author(s):  Modiesha Stephens

This paper covers:

  • foreign transfer duty
  • foreign landholder duty
  • family farm exemption 
  • landholder duty
  • bare trustees.
Materials from this session:

Pre-97 loans and pre-2009 UPEs: Forgotten but not forgiven

Author(s):  Rhiannon Clews,  Leon MOK

This paper covers:

  • pre-97 Loans
  • pre-2009 UPEs
  • future amendments.
Materials from this session:

Residency and trusts

Author(s):  Ross Forrester

This paper covers:

  • what is a trust?
  • residency
  • different types of trusts
  • residency of trusts
  • residency and double tax agreements
  • what tax does the double tax agreement cover?
  • changing residency
  • Division 855
  • non resident trusts generating income.
Materials from this session:

Trust involvement in Division 7A

Author(s):  Daniel SMEDLEY

This paper covers:

  • Division 7A and unpaid present entitlements
  • proposed changes to the Division 7A regime
  • dealing with unpaid present entitlements.
Materials from this session:

Structuring in Division 7A

Author(s):  Daniel SMEDLEY

This paper covers:

  • a brief recap on Division 7A and an overview of unpaid present entitlements
  • companies as preferred trading vehicles with discretionary trust shareholders – the Division 7A pros and cons
  • trusts as the trading company shareholder – the franking credit issues
  • problematic structures and Div 7A interactions
  • obtaining the asset protection and succession planning objectives but managing Div 7A imposts
  • contemplating structure implications of the proposed July 2020 amendments.
Materials from this session:

Restructuring in Division 7A

Author(s):  Daniel SMEDLEY

This presentation covers:

  • restructuring and UPEs
  • small business restructure rollover
  • ATO round table comments
  • Division 7A implications
  • restructures to corporate entity.
Materials from this session:

1 Division 7A – Inherited problems & obscure applications

Author(s):  Daniel Taborsky

This presentation covers:

  • how to deal with inherited Division 7A problems
  • amendment periods
  • loans previously treated as dividends
  • distributable surplus
  • penalties
  • deceased estates.
Materials from this session:

ATO update

Author(s):  Rick Owen

This presentation covers:

  • unitisation arrangements
  • Commissioner’s discretion - 109RB.
Materials from this session:

Division 7A in practice – Things to watch out for

Author(s):  Tim Poli

This presentation covers:

  • payments & loans through interposed entities
  • multiple Div 7A loans for the same shareholder/associate
  • forward planning for the end of year 7 of Div 7A loans (cashflow)
  • restructuring options to satisfy Div 7A loans.
Materials from this session: