Taxation of trusts update

Articles Written by Andy Milidoni (Partner)

The following articles provide an overview of the recent developments in relation to the taxation of trusts.

The topics covered are:

  1. trust resettlements as examined by the Commissioner in Draft Taxation Determination TD 2012/D4
  2. the proportionate approach to working out a beneficiary's share of the net income of the trust as examined by the Commissioner in Draft Taxation Determination TD 2012/D5
  3. recovery of income tax and GST liabilities of a trust where there has been a change of trustee as examined by the Commissioner in Practice Statement Law Administration PS LA 2012/2
  4. Treasury's discussion paper on fixed trusts
  5. the progress of the Commonwealth Government's recent reform proposals for the taxation of managed investment trusts
Important Disclaimer: The material contained in this article is comment of a general nature only and is not and nor is it intended to be advice on any specific professional matter. In that the effectiveness or accuracy of any professional advice depends upon the particular circumstances of each case, neither the firm nor any individual author accepts any responsibility whatsoever for any acts or omissions resulting from reliance upon the content of any articles. Before acting on the basis of any material contained in this publication, we recommend that you consult your professional adviser. Liability limited by a scheme approved under Professional Standards Legislation (Australia-wide except in Tasmania).

Related insights Read more insight

Desiring a tax benefit is not enough for Part IVA to apply: Minerva Appeal
2024 articles
Written by Kathryn Bertram , Annemarie Wilmore,...

In a unanimous decision, the Full Federal Court has overturned a decision of a single judge of the Federal Court in Minerva Financial Group Pty Ltd v Commissioner of Taxation [2022] FCA 1092...

More
ATO boldly sharpens its tools: multinational intangible arrangements in its sights
2024 articles
Written by Kathryn Bertram , Annemarie Wilmore,...

Multinational groups who use intangible assets as part of their operations should be aware of two new guidance documents published by the ATO.

More
Is your organisation eligible for a land tax foreign surcharge exemption in Victoria or Queensland?
2024 articles
Written by Kathryn Bertram

Foreign surcharges are payable in addition to ordinary stamp duty or land tax. Victoria and Queensland offer exemptions from the foreign surcharges for certain large organisations.

More