Tuesday, May 18, 2021

Where’s it at?** Capital gains tax and non-resident beneficiaries

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Following recent posts it is worth remembering that historically, non-resident individuals could access the 50% capital gains tax ( CGT ) di...
Tuesday, May 11, 2021

Tax Office tracing** of trust distributions

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Following on from last week’s post, arguably, the starkest example of the Tax Office’s attitude concerns its review around identification of...
Thursday, May 6, 2021

Trust assets on marriage breakdown (AKA Primitive love rites**)

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Many previous posts have explored how trusts are considered in family law matters. The decision in Balken & Vyner [2020] FamCA 955 pr...
Tuesday, May 4, 2021

Trust distributions to non-resident (leaders)** or beneficiaries (as the case may be)

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Generally, withholding tax is payable on all dividends, interest or royalties included in the income paid by a resident trust to a non-resid...
Tuesday, April 27, 2021

Exclusion of settlor and the notional settlor (claws) or clauses** as the case may be

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Today’s post looks at the rationale behind excluding settlors and notional settlors of trusts.  Almost all trust deeds contain a clause excl...
Tuesday, April 20, 2021

Trust disclaimers – taking the (tax) position** for the trust

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Recent posts have looked at some of the key issues to be aware of in relation to disclaimers by beneficiaries of a trust.  One other critica...
Tuesday, April 13, 2021

Sometimes** unit holders do have liability – another lesson from the leading case

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Last week’s post featured a detailed look at the decision in  JW Broomhead (Vic) Pty Ltd (in liq) v JW Broomhead Pty Ltd & Anor  (1985) ...