The recent release of a trio of tax guidance documents by the ATO addressing section 100A has been described as being the most significant development for trust taxation in almost 40 years. In this article we focus on a key shortcoming of the anti-avoidance provision.
Section 100A can apply to trust distributions where a beneficiary is made presently entitled to a share of trust income and that present entitlement arose out of a reimbursement agreement. This draft ruling is intended to address the exclusions – in other words the situations where section 100A does not apply.
It is common knowledge amongst advisors to self-managed super funds that the in-house asset rules apply to investments in related trusts. It is also quite
Do you, or a client, have a discretionary trust that owns, has owned or intends to purchase ‘residential land’ in NSW? Alternatively, is there a
An ongoing trend in tax is the increasing standards that have to be met by both taxpayers and by tax agents. Long-standing practices are
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