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Barossa Online – SME Tax Technical: Decoding trust income | Session 1 Webinar

Monday, 25 May 2020 - 12:00 AM to
Monday, 25 May 2020 - 12:00 AM

Registration Time: 00:00:00 AM

Member Price: $70.00

Non Member Price: $90.00

CPD hours:1.00

Session 1: Decoding trust income

The pathway that the trustee and its advisers must navigate in order to distribute the trust income to achieve the desired tax outcomes and attributes for the intended beneficiaries is often complex. This session will cover:

  • Ongoing discrepancies between trust income and tax net income and how the courts have been dealing with the issues post Bamford ie Greenhatch, Forrest
  • Challenging trust streaming issues (franked dividends, capital gains and general streaming)
  • How the Courts have defined "income of a trust estate" including latest case law developments
  • Income equalisation clauses, income re-characterisation clauses and other important trust powers
  • Matters to consider when drafting trustee resolutions
  • Default beneficiaries and vesting.

Presenters: Michael Flynn QC, CTA (Life), Owen Dixon Chambers West

Michael Flynn QC, CTA (Life), is a Barrister at Owen Dixon Chambers West, specialising in taxation, and was National President of The Tax Institute in 2014. He is the author, with James Kessler, QC, of Drafting Trusts and Will Trusts in Australia (2nd edition, 2017). Michael has appeared in the Administrative Appeals Tribunal, the Federal Court and the High Court in taxation cases. Michael has been a member of various committees of The Tax Institute for over 20 years.