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: Allan Swan

Allan Swan works with private clients and their accounting, financial advisors and legal practitioners relating to the legal aspects of Preventative Law. Allan also provides practitioner training and speaking services, is an instructor for the Leo Cussen Centre for Law, the Law Institute of Victoria and other professional bodies and is also a director of the Law Institute of Victoria. Allan has 3 specialist accreditations, namely as a Chartered Tax Advisor, Trust and Estate Practitioner, and an Accredited SMSF Specialist TM. Allan holds degrees in Law and Economics and a Graduate Diploma in Financial Services.