2023

Part 1 – What’s that? My distribution is invalid?

Source: South Australia

Published Date: 9 Mar 2023

 

We have seen the validity of actions taken by trustees in administering trusts – particularly in the succession context – increasingly challenged by beneficiaries.

This has often come to light with disputes about the validity of amendments to trust deeds and the identity of the appointor. But what are the flow-on consequences of these and other actions against the trustee in relation to distributions of trust income? How is this addressed when the invalidity may only be discovered some considerable time after the event?

This presentation blends some technical trust and tax law content with consideration of practical workshop style questions to address these issues. Part one of this presentation considers:

  • Background to the context of trust distributions
  • What are the obvious and not so obvious reasons why a trust distribution may be invalid?
  • Recent cases on trust formalities; and
  • Taxation of distributions where there is an invalid appointment.

Sorry, this is subscriber only content.

If you're not yet a subscriber, to gain access to this material and much more - Subscribe Now.

Already a Subscriber? Login now

Already a Subscriber? Login now

Details

The material is copyright. Apart any fair dealing for the purpose of private study, research criticism or review, as permitted under the copyright Act, no part may be reproduced 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.

The Tax Institute
(ABN 45 008 392 372 (PRV14016))

("TTI")

The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009. 

Copyright Statement

All materials provided on this site are protected by copyright and are owned by or licensed to TTI.

Except as expressly permitted by TTI or the copyright owner, any person or company who uses this site must not use, reproduce, redistribute, retransmit, publish or otherwise transfer, or commercially exploit, the materials or any information, software or other content, in whole or in part, which is available through this site.

Tags

2023

Share this page