Tuesday, February 10, 2015

Where are we at with trusts?

As set out in earlier posts, and with thanks to the TelevisionEducation Network, today’s post addresses the issue of ‘Where are we at with trusts?’ at the following link - http://youtu.be/ZMgAI9edJ-4

As usual, a transcript of the presentation for those that cannot (or choose not) to view the presentation is below –

There's undoubtedly been an enormous amount of hysteria in recent times in relation to trusts generally, but particularly from a family law perspective. That hasn't been helped, because of a series of decisions that have come out from a family law perspective that have got a lot of media attention. 

The reality is there's also been an equal number of decisions and pronouncements from the Tax Office across issues, such as unpaid present entitlements, the taxation of trusts generally, resettlements of trusts. So you've had a whole range of things happening under both family law and wider commercial issues that have come out of the courts and out of the revenue offices. 

Then on top of that, you've had the government constantly looking to introduce new legislation, and making announcements about what may or may not happen in relation to the taxation of trusts. 

These three issues have almost created a perfect storm in terms of the amount of white noise that is around concerning where we are with trusts.

Until next week.