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Sham Trust Distributions

Published on 28 Aug 2008 | Took place at Leonda by the Yarra, Hawthorn, VIC

Part of the Breakfast Club Series, this event was also held on the 29 September 2008 at the Mercure Hotel in Geelong.

Aimed at anyone advising on or working with trusts, this event examined several questions in relation to the High Court's Raftland decision.

Individual sessions

Raftland Pty Ltd v Commissioner of Taxation [2008] HCA 21

Author(s):  John GLOVER

This presentation examines the following questions in the context of the High Court decision in Raftland and what that decision means for trust practices and distributions generally:

  • do we really need the trust loss measures and other complicated tax legislation after the High Court decision in Raftland?
  • are some trust distributions simply ineffective shams under common law principles?
  • if so, who gets taxed when a sham distribution is struck down: the trustee, the other beneficiaries named in the distribution minute or the default beneficiaries?
  • do the answers to these questions depend on a better worded trust deed or trust distribution minute?
Materials from this session: