This paper covers:
- what is a trust?
- what type of trusts are there?
- what are the key rules for taxing trust under Division 6 ITAA 1936?
- what is a present entitlement?
- why is present entitlement important?
- when is a present entitlement deemed to arise?
- what other matters are relevant in the context of present entitlement?
- can a beneficiary disclaim an entitlement once he she or it becomes aware of it?
- when must the present entitlement arise for Division 6 purposes
- does Division 6 ITAA 1936 apply to all trusts?
- apart from Division 6 when dealing with trusts in general, are there other provisions that need to be considered?