448 results found

In this draft bill, a CCIV is a corporate entity that would receive the same tax outcomes as a managed investment trust.

The definition of 'foreign person' under FATA is very wide and can apply to a broad range of individuals and entities.

The insolvency of a company which is the trustee of a trust presents particular challenges for creditors.

The High Court of Australia has delivered its landmark judgment on whether unpaid present entitlements from a trust to a corporate beneficiary constitute a loan under Division 7A of the Income Tax Assessment Act 1936. This decision resolves a critical question that has significant implications for how trusts structure distributions to corporate beneficiaries and whether such arrangements trigger deemed dividend treatment under Australia's tax integrity provisions.

Tax Determinations TD 2022/12 and 2022/13 reinforce the need for review of the taxation of trusts

Section 100A of ITAA 1936 gives the ATO powers to tax the trustee of a trust on "sham" distributions at a rate of 47%.

Trustees should be careful of proper trust distributions, so that trust income is not taxed at the top marginal rate.

Overview of the treatment of foreign persons & discretionary trusts in NSW.

Current US tax laws do not provide any definitive guidance on the US tax classification and treatment of hybrid foreign retirement plans such as an Australian Superannuation Fund

This year’s Budget proposes changes to negative gearing, capital gains tax, discretionary trusts, tax deductions and housing policy. These changes could affect valuations, tax advice, settlement structures...

Five regulatory hotspots that Trustees should address to reduce operational risks and to overcome these challenges.

This decision confirms the move away from the thinking that the priority regime applies to all assets of a company.

The AAT Bendel decision disagreed that a trust's unpaid entitlement to a company beneficiary constituted a loan.

Certain NSW trustees may need to make urgent changes to their trust deeds, to avoid paying extra stamp duty or land tax.

Whilst often misunderstood to be a legal entity like a company, a "trust" describes no more than a relationship between a trustee and their beneficiaries whereby the trustee holds property on trust and for the benefit of the beneficiaries.

A discretionary family trust generally gives a trustee discretion to distribute the income or capital for the benefit of one or more beneficiaries at the exclusion of others.

A foreign business should plan ahead to carefully consider and determine what sort of business to operate in Australia.