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When international tax meets the family trust


Dealing with the Australian taxation of offshore trusts is very difficult. The scope of the application of the law is highly uncertain and not well known. This is because the tax law uses core definitions that are not exact equivalents of trust law terms. In addition, foreign law uses terms that are not equivalent to Australian trust law usages. The result of this, combined with the statutory complexity, is that it becomes much easier than usual to make an incorrect analysis of tax consequences by relying on an incorrect understanding of a term. This article looks at the issues that arise with basic terms and core starting points in offshore trust taxation.

Author profile

Nolan Sharkey
Dr. Nolan Sharkey is a Barrister at Francis Burt Chambers and Winthrop Professor of Law at the University Of Western Australia. He is also Professorial Fellow at Atax, UNSW in Sydney where he was based from 2000 to 2013. At Atax he delivered Masters units in international tax, DTAs, trust taxation and developed the first unit on Chinese tax outside of China. At UWA he teaches tax while at the bar he consults and advises on taxation. Nolan is widely published in leading journals. He is an FCA and holds degrees in law, accounting, Asian studies, psychology and tax. - Current at 15 April 2015
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