One of the reasons for so many family trusts in Australia is their flexibility.  The tax rules that apply to family trust have limited part of that flexibility.  As a result, to careful planning is needed to get maximum taxation advantage from family trusts.

Family trust income tax régime

• Lack of capacity, non-residents & accumulation – trustee taxed
• Streaming of franked income & net capital gains
• Effective streaming of interest income via loan only trusts

Taxation of trust beneficiaries

• Trustee resolution – vested & indefeasible interest by end of financial year
• Beneficiary liable for tax on allocation, not payment
• Default beneficiary entitlements

Family trusts & CGT

• Absolute entitlement v present entitlement
• Small business CGT concessions, eg business premises
• Non-resident beneficiaries

Family trusts, land transfer duty & land tax

• Transfer of assets into trust
• Transfer of asset out of trust
• Land tax – treatment of family trusts across Australia

CPD hours: 1.5
Price: $129 for member, $155 for non-member
Certification is provided upon completion

Presented by: Nathan Yii

Nathan Yii is an experienced structuring and estate planning lawyer and is recognised in Doyles’ Guide as a leading Wills, Estates & Succession Planning Lawyer in Victoria. He works with accountants, financial planners and other lawyers to achieve their clients’ structuring and estate planning objectives, factoring in taxation, asset protection, SMSF compliance and dispute prevention. He consults to family businesses and family offices of high net worth individuals around Australia and also acts for clients in trusts and estate dispute matters. Nathan is a regular presenter and shares his insights with financial and legal practitioners. He is Chartered Tax Advisor, an SMSF Specialist Advisor and a lecturer in the College of Law’s Master of Laws program and holds a Bachelor of Commerce (Accounting), a Bachelor of Laws (Hons) and a Master of Laws.