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.