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Trusts and CGT - The Hidden Dangers of the 'E' Events convention paper

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Published on 12 Mar 04 by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE

The declaration of trusts, the transfer of assets in and out of trusts, and the transfer of assets between trusts, continue to be difficult areas for tax practitioners. This convention paper considers the effect of CGT on trusts.

In particular, case studies are used to demonstrate how all the E events are treated, with particular emphasis on:
- declaration of trusts
- non assessable distributions (incl CGT discount and small business concessions)
- in specie distributions
- asset revaluation reserves
- non resident issues
- winding up and vesting trusts.

Author profile

Andrew Sinclair CTA
Andrew Sinclair, CTA is a partner in Cowell Clarke's Tax & Revenue practice group. As a tax and superannuation specialist with over 25 years experience, his qualifications are in law and as a Chartered Accountant. With a broad knowledge of corporate and business law, Andrew has specialist expertise in private client scenarios. This usually involves discretionary trusts, private companies and the diversity of views that family dynamics deliver. - Current at 22 January 2018
Click here to expand/collapse more articles by Andrew SINCLAIR.

 

This was presented at 38TH SOUTH AUSTRALIAN STATE CONVENTION: A SPECTACLE OF TAX .

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