99B and the Temple of Doom
Published Date: 15 Feb 2024
Deep in the mountainous abyss of the taxation of trusts lives a provision, which until recently, was rarely disturbed. The ATO has resurrected section 99B from its slumber. It is ugly and mean-spirited, frightening even to the most seasoned adviser in its potential breadth. This session will:
- Provide an overview of the history and purpose of section 99B
- Provide practical examples of when section 99B can apply, including the application of section 99C
- Explain why proving the corpus exception is like finding the mystical stone; and
- Explain how managing a section 99B audit can feel like being ambushed while crossing a rope bridge.
Individual Session
Details
- Published By: Kaitilin Lowdon ATI, Jonathan Ortner
- Published On:15 Feb 2024
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
Share this page