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Trust distributions: The Commissioner speaks paper

Member Price: $57.00
Non Member Price: $75.00

DisclaimerThis material is copyright. Apart from any fair dealing for the purposes of private study, research, criticism or review, as permitted under the Copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.
Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

Published on 29 Oct 09 by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE

This paper covers:

  • background and implications of PSLA 2009/7 and PSLA 2005/1 (GA) for discretionary trusts
  • practical approaches to dealing with discrepancies between trust income and tax net income under PSLA 2009/7
  • is streaming still possible?
  • when are amended assessments required?
  • unpaid present entitlements - can they ever be treated as loans?

Author profiles

Peter Slegers CTA
Photo of author, Peter SLEGERS Peter Slegers, CTA, heads Cowell Clarke’s Tax & Revenue, Superannuation and Private Client practice groups. Peter advises and acts for a wide range of public and private companies and high net worth individuals and families. Peter’s areas of expertise include income tax (as it impacts on business and high net worth clients), capital gains tax, goods and services tax, state taxes, trust law and superannuation law. Peter has published numerous papers on trust structures and has considerable experience in this area. Peter is also a co-author of the Tax Institute’s SMSF Income Stream Guide and Cowell Clarke’s Australian Agribusiness Advisers’ Guide. - Current at 16 April 2024
Click here to expand/collapse more articles by Peter SLEGERS.
Andrea Michaels
Andrea Michaels is the South Australian Minister for Small and Family Business, Consumer and Business Affairs, and Arts. She is also the State Member for Enfield, representing the community in Adelaide’s inner North and North-Eastern suburbs. Andrea’s family fled war-torn Cyprus in 1974, landing in South Australia in 1976 when she was just 11 months old with nothing but the clothes on their backs. Through her parents’ hard work, commitment to family and dedication to their community, Andrea was instilled with a passion for community service. She is now the proud mother of two boys, Sebastian and Charlie, and is keen to ensure that they and their peers are also provided with ample opportunities in a strong, diverse and thriving community. Prior to becoming a Minister, Andrea was running her own small business – a legal practice specialising in commercial law and supporting small and family businesses. She has also been Treasurer of the Law Society of SA, a company director, and a partner at industry leading law firms, as well as a chartered tax advisor and accredited family business advisor. Andrea is passionate about promoting diversity, supporting more women to launch and grow businesses, and building safe, fair and friendly communities. She is focused on ensuring the Government is easy to do business with, that small businesses are supported to succeed, and that the whole community has access to a thriving cultural and creative sector. Andrea is also committed to being a strong voice for the people of Enfield. - Current at 11 July 2022
Click here to expand/collapse more articles by Andrea MELILLO.

 

This was presented at Trusts in transition .

Get a 20% discount when you buy all the items from this event.

Individual sessions

Trust cloning: Some light at the end of the tunnel

Author(s):  Marc ROMALDI

Materials from this session:

Trust distributions: The Commissioner speaks

Author(s):  Peter SLEGERS,  Andrea MELILLO

Materials from this session:

Further details about this event:

 

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