Trusts

Trusts in Business | Navigating The ATO Crackdown & Evaluating Benefits

By Wen Wen / August 29, 2023

Understanding the recent ATO crackdown on trusts The recent ATO crackdown on trusts will no doubt have some business owners (and even some advisors) asking themselves the question: Is this structure for business purposes still worth it? To recap, trust distributions have been under the ATO microscope in recent years. The latest ATO crackdown was […]

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The ATO releases final guidance on section 100a

ATO Finalises Section 100A Guidance For Family Trusts

By Karyn Clarke / February 21, 2023

The ATO releases final guidance on Section 100A for family trusts The ATO released its final guidance material on the application of section 100A on 8 December 2022 – TR 2022/4 and PCG 2022/2. In doing so, it has clarified a number of issues which is welcome. To recap, the ATO in February 2022 updated […]

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Get Your Director Identification Numbers ASAP

By Wen Wen / October 11, 2022

Director ID, time is ticking… All existing directors of a company, a registered Australian body, a registered foreign company, or a director of corporate trustees of an SMSF are required to apply for a director identification number (director ID) by 30 November 2022…so act now!  If you are a director of an Aboriginal or Torres […]

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Tax Implications On Trust Distributions To Non-Resident Beneficiaries

By Wen Wen / September 21, 2021

Trust distributions to non-residents When an Australian trust makes a distribution to a non-resident beneficiary, it is often the case that the Australian trust is required to pay tax on the distribution. The trustee’s payment of tax on trust distributions to non-resident beneficiaries of an Australian trust is a tax collection security measure. It is […]

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discretionary-trust

Understanding Discretionary Trust Distributions

By Wen Wen / July 2, 2020

Purpose of trust distributions Distributions from trusts and the taxation of those distributions is complex. This is an attempt to simplify the topic. The purpose of a trust is to separate the legal and beneficial ownership of assets. The legal ownership of the asset rests with the trustee. The beneficiaries benefit from the income that […]

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Understanding trust distributions and its tax implications

Understanding Trust Distributions

By Wen Wen / February 24, 2020

Purpose of a trust Distributions from trusts and the taxation of those distributions are complex. That’s why we want to simplify this subject for you. The purpose of a trust is to separate the legal and beneficial ownership of assets. The legal ownership of the asset rests with the trustee. The beneficiaries benefit from the […]

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