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Trust distributions: Achieving the desired outcomes paper

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Published on 07 May 09 by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE

The Commissioner of Taxation has demonstrated a renewed interest in trust distributions in recent years. This paper considers some of the commonly encountered issues that arise when preparing trust distribution minutes. It provides useful insights on how to achieve desired outcomes and minimise exposures in this difficult area. Topics covered include:

  • what to look for in the trust deed
  • drafting trust distribution minutes: common problems and suggested solutions
  • the tax net income and trust income debate: state of play
  • practical implications of recent cases
  • pitfalls when income streaming and the significance of PS LA 2005/1 (GA)
  • effective capital distributions.

Author profile

Peter Slegers CTA
Photo of author, Peter SLEGERS Peter Slegers, CTA, heads Cowell Clarke’s Tax & Revenue, Superannuation and Private Client practice groups. Peter advises and acts for a wide range of public and private companies and high net worth individuals and families. Peter’s areas of expertise include income tax (as it impacts on business and high net worth clients), capital gains tax, goods and services tax, state taxes, trust law and superannuation law. Peter has published numerous papers on trust structures and has considerable experience in this area. Peter is also a co-author of the Tax Institute’s SMSF Income Stream Guide and Cowell Clarke’s Australian Agribusiness Advisers’ Guide. - Current at 16 April 2024
Click here to expand/collapse more articles by Peter SLEGERS.

 

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