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Profits First Rule
Published on 01 Aug 2000 | Took place at Adelaide Festival Centre Banquet Room, Adelaide, SA
Second part of the 2 part series: Distribtion of Profits.
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Individual sessions
Entity Taxation
Author(s):
Rob JEREMIAH
This paper provides a guide is prepared to assist users in understanding and applying the proposed new rules applicable to entities under The New Business Tax System to the extent that the proposed new rules relate to entity taxation, distributions from entities (including capital distributions from testamentary trusts), membership interest in entities, re-arrangements of membership interests, unpaid trust entitlements, special rules for testamentary trusts, and the contributed capital account of entities.
Materials from this session:
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Profits First Rule
Author(s):
Scott BRYANT
The primary focus of this paper will be on the taxation of distributions from entities. The specific aspects to be addressed consider some of the practical implications associated with: the proposed introduction of a Profits First Rule to apply to companies and trusts, the proposed Slice Rule and its application, and proposed implications for non-commercial loans involving companies and trusts.
Materials from this session:
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