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Trusts reform: credit where it's due

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Published on 01 Feb 98 by "THE TAX SPECIALIST" JOURNAL ARTICLE

This article discusses the Assistant Treasurers release on 31 December 1997, of new legislation amending the provisions to prevent trading in franking credits and the misuse of intercorporate dividend rebates. Included in the new legislation are changes to trusts, whereby beneficiaries who do not have sufficient interest in the corpus of their trusts will not be entitled to franking credits on dividends flowing through to them from shares held by the trustee.

Author profile

Graham Candy
Graham is a Senior Consultant at Rigby Cooke Lawyers. He has been a commercial lawyer since 1969 and a partner in Rigby Cooke and its predecessors since 1971. He has had a number of articles published in leading journals on taxation law and has presented many lectures and seminars on current tax issues to lawyers, accountants and other professional and business associations. - Current at 23 October 2005
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