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Trust distributions – part 1: structural and administration considerations

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Published on 01 Aug 21 by "THE TAX SPECIALIST" JOURNAL ARTICLE

A trust is often used for business and investment vehicles because the beneficiaries are taxed on distributions of trust income, unless accumulated by the trustee. The form of the trust, the terms of the trust instrument, the drafting of distribution resolutions, legislative restrictions and Australian Taxation Office administrative practices may alter the intended distribution effect with unanticipated tax consequences. This two-part article will discuss these issues affecting trust distributions and provide example resolutions and possible distribution methodologies to manage these issues. Part 2 of the article will consider how these issues
affect selected common and complex trust distribution transactions.

Author profile

Ronald Jorgensen CTA
Ron Jorgensen, CTA principally consults on Commonwealth and State tax laws, tax dispute resolution and compliance enforcement and specialises in trusts and trust disputes, succession and succession disputes and asset protection, business and investment structuring and tax sensitive commercial and property transactions for high wealth families, privately owned businesses and small to medium enterprises. He is a member of The Tax Institute, the Law institute of Victoria and the Law society of Tasmania. He is an Accredited Specialist in Tax Law and a member of the Tax Law Advisory Committee with the Law Institute of Victoria. He is a member of the Property and Commercial Law Committee of the Law Society of Tasmania. Ron is a Chartered Tax Advisor and a member of the State Council (Tas) and the State Taxes Committee (Tas) of The Tax Institute. He has a Master of Laws (Melb) and a Bachelor of Arts-Laws (Tas). Ron is a nationally respected tax and trusts technical writer and presenter. Ron was recognised by Doyle’s Guide Leading Tax Lawyer – Victoria for 2015 to 2023 and Best Lawyers for tax law – Australia for 2021 to 2023. - Current at 15 May 2024
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