2011

Taxation of Trusts - Recent Developments and Proposed (Legislated) 2010/2011 Changes

Source: Western Australia

Published Date: 19 May 2011

 
There are major areas of confusion and uncertainty in the tax treatment of trusts. The High Court's decision in Bamford's Case and the ATO's response has left more issues unresolved than were answered. The Government is conducting a public consultation process with a view to rewriting the trust income tax. In March, changes were announced to allow "streaming' of franked dividends and capital gains. In April, the Government announced that it would defer considering the update and rewrite of the trust income tax provisions, and released Exposure Draft legislation limited to the "streaming' changes.

This event covered:

  • the interim measures and issues resolved and unresolved
  • amendment required to your client's trust deeds (and whether any amendments are really necessary)
  • how the taxation of trusts landscape may look in the not too distant future.

Tax treatment of trusts

Author(s): Jonathan Ilbery CTA-Life

Details

  • Published On:19 May 2011
  • Took place at:City West Receptions, West Perth

The material is copyright. Apart any fair dealing for the purpose of private study,

research critisism or review, as permitted under the copyright Act, no part may be rerpoduced by any process without written permission from The Tax Institute.

Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

This material is copyright. Apart from any fair dealing for the purpose of private study., research, critisism or review, as permitted under teh copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.

Unless expressly stated, opininons are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

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