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Trusts revisited paper

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Published on 23 Nov 06 by NATIONAL EVENTS, TAXATION INSTITUTE OF AUSTRALIA

The trust is, at its core a simple concept, regularly complicated by tax and trust law changes. The High Court has recently handed down its decision in CPT Custodian and this may radically impact on the way tax practitioners deal with trusts. Then again it may not. This paper answers these questions (and others):

  • when are beneficiaries of a trust 'absolutely entitled' to trust assets as against the trustee?
  • what interest does a unitholder have in the trust assets... and does it matter?
  • what is left of the reasoning in Charles Case following the CPT Custodian decision?
  • can we still maintain that income and capital retain their character as they flow through a trust?
  • what does the ATO think of all this?
This was also presented by Philip Bisset at the "Trusts Revisited - A Review of Recent Cases" seminar held in Perth on 5 October 2006.

Author profile

John de Wijn KC CTA - Life
John de Wijn KC AM, CTA (Life), specialises in revenue law, with a particular emphasis on taxation law and stamp duty. John was called to the Bar in 1984, after practising as a solicitor for 9 years. He took silk in 1997. John is regularly consulted by large corporations and the Australian Taxation Office seeking advice on the intersection of revenue law and commercial practices. John served as a Victorian State Councillor of the Taxation Institute of Australia from 1989 to 1997 and again from 2002. He was president of the Taxation Institute in 2005. John has also been a member of the Taxation Committee of the Law Council. - Current at 17 April 2025
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Trusts revisited

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