The Taxation of Trusts
The definitive 8-part webinar series.
The use of trusts in the Australian financial landscape is ubiquitous among the small and medium business sectors. The taxation of trusts is complex and often misunderstood by people who operate their business or investments through a trust. Even many tax agents struggle with aspects of the taxation of trusts.
That’s why Tax & Super Australia is running a comprehensive series of webinars that will help you and your staff to understand virtually everything you’ll ever need to know around this perplexing topic. The series is designed to be beneficial for both experienced practitioners as well as those starting out in their tax accounting careers.
All 8 sessions will be written and presented by Tax & Super Australia's Tax Counsel, John Jeffreys. John will provide, in every session, a number of worked examples and diagrams in accordance with his normal style of presentation.
Presented by TSA Tax Counsel, John Jeffreys
10 September - 17 December 2021
BONUS E-BOOK: You will also be provided with a bonus e-book written by John Jeffreys on the taxation of trusts. The book will cover all of the material from the 8 presentations plus some additional material that will not be referred to in the presentations. It will be a resource that you will refer to again and again.
Friday 10 September 2021
The session will discuss concepts that include the reasoning behind the existence of trusts, the settlor, the appointor, the trustee, beneficiaries, fixed trusts, unit trusts, discretionary trusts, the trust deed and the different types of trusts.
Friday 8 October 2021
This session will deal with several important aspects of the taxation of trusts including the proportionate approach, legal disabilities, drafting of trust distribution minutes, non-resident beneficiaries, withholding tax, minor beneficiaries and present entitlement.
Friday 22 October 2021
This session will deal with what is the least understood part of the taxation of trusts – the streaming of capital gains from a trust. It will give fully worked examples of how the concept of "specific entitlement" impacts on the taxation of beneficiaries and how trust distribution minutes need to be drafted so that expensive mistakes are not made.
Friday 12 November 2021
It is important to know how to deal with tax losses made in trusts. In this session we will cover non-fixed, fixed trusts and unit trusts (which are often not fixed trusts), how to be able to carry forward losses without making a family trust election, the 50% stake test, the business continuity test, control test and pattern of distributions tests.
Friday 19 November 2021
This session will deal with family trusts, who is in the family, who is in the family group, the family control test, family trust elections, excepted trusts and the often-forgotten income injection test.
Friday 26 November 2021
The CGT law contains 10 separate events that can cause a capital gain or capital loss to arise in relation to a trust. In this session we will cover the events you are most likely to encounter in practice. It will include a detailed discussion on CGT event E4 which occurs when a beneficiary receives a tax-free amount in relation to their unit or interest in a trust.
Friday 3 December 2021
There exists a suspicion in the ranks of some in the ATO and the Treasury that anyone using trusts must be avoiding tax. Accordingly, the tax law contains a number of anti-avoidance provisions that are specifically directed at the use of trusts. These include reimbursement agreements, specific tax avoidance agreements involving trusts, provisions that deal with distributions from closely held trusts and provisions that deal with distributions to exempt entities.
Friday 17 December 2021
This session will deal with some other important trust issues. These will include the Division 7A issues related to unpaid present entitlements of private companies, the taxation of capital gains distributed to foreign resident beneficiaries and the special provision (section 99B) that deals with the taxation of income received by a trust that has not been previously taxed.
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