Trusts distributions presentation

Published on 19 May 22

The ATO’s renewed focus on section 100A has put trust distributions in the spotlight, particularly the scope of the income-splitting advantages of a discretionary family trust. While it is important to be aware of the ATO’s position on section 100A, there are other relevant issues concerning trust distributions, which are important to be aware of since they are also generally raised in ATO risk reviews. This presentation examines not only the current public draft ATO guidance provided in relation to its application of section 100A on family trust distributions and its views of the ordinary family or commercial dealing exception, but also:

• The impact of the family trust election rules on trust distributions – in particular the issues that may arise on marriage breakdown, death or addition to the family
• Responding to ATO queries concerning the source of overseas settlements of corpus
• Managing the particular tax attributes and interactions of foreign income, gains and foreign beneficiaries, through either resident or nonresident trusts

Author profile

Dung Lam CTA

Dung Lam, CTA, is a Principal at West Garbutt and is based in Sydney. Dung has more than two decades of experience in advising on a wide variety of taxes including income tax, capital gains tax, GST and state taxes such as duty, payroll tax and land tax. Dung also has extensive experience advising on taxation trusts, superannuation issues in the self-managed superannuation funds arena and tax issues related to estate planning. Dung is a Chartered Tax Adviser, full member of the Society of Trusts and Estate Practitioners, an accredited Specialist in Business and Personal Tax with the NSW Law Society, a member of the Business Law Section Taxation Committee of the Law Council of Australia and a member of the NSW Law Society Liaison Committee with the Revenue NSW. Dung advises a broad range of clients ranging from corporates, small to medium enterprises, high net worth individuals, professional firms, accountants, financial planners and their clients. - Current at 17 January 2023

More by Dung Lam

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• Trusts & trust accounting - It is not getting any easier paper - 05-November-2015
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