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

Taxation of multinationals – things to keep an eye on heading into the new year
2024 articles

The taxation of multinationals has been a hot topic in Australia for some time. In this Insight we highlight some of the recent developments in this area as well as further developments to look out...

More
High Court gives green light to taxpayer on luxury car tax case about purpose and intention
2024 articles
Written by Kathryn Bertram , Annemarie Wilmore

A green light on the last lap (and after two red lights): The High Court by majority of 3:2 recently upheld the taxpayer’s appeal in Automotive Invest Pty Ltd v Commissioner of Taxation [2024] HCA 36.

More
State and territory budget snapshot – key business announcements
2024 articles
Written by Kathryn Bertram , Lachlan Smithers, ...

Every Australian state and territory has now delivered its 2024-25 state budget. We summarise the most notable inclusions.

More