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Retrospective family trust elections paper

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Published on 26 Jul 05 by NEW SOUTH WALES DIVISION, THE TAX INSTITUTE

If you have a non-fixed trust, one of the ways you may need to deal with the problems that arise is through making a family trust election. This paper addresses what the election is, when it is needed, and what the advantages and disadvantages of making the election are. The recent changes to the law to allow for these elections to be made retrospectively are also addressed, and the practical application of this change is critically evaluated. Matters covered include:

  • what are FTEs and IEEs?
  • what are they needed for?
  • why are there issues about retrospectivity?
  • if needed, when can they be made?
  • where are we now?
  • have all the problems been solved?

Author profile

Andrew Noolan CTA
Andrew Noolan, CTA, is a partner in the Sydney law firm Brown Wright Stein Lawyers. His clients are accountants and lawyers in public practice that require advice on tax issues impacting on their clients. Andrew specialises in tax issues common to the SME and high wealth individual sectors. - Current at 17 May 2024
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This was presented at Family Trust Elections .

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Individual sessions

The Family Group

Author(s):  Mariana VON LUCKEN

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Retrospective family trust elections

Author(s):  Andrew Noolan

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