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Business Structures Online - Part 4: The broke trustee

Friday, 3 July 2020 - 12:30 PM to
Friday, 3 July 2020 - 1:30 PM
Online AEST
Event Coordinator: ZoeWender@taxinstitute.com.au
     

Registration Time:

Member Price: $70.00

Non Member Price: $90.00

CPD hours:1.00

Part 4: The broke trustee

Australians love trading through trusts. In a tough trading environment, we will be seeing trust insolvencies. In this session David will talk about some of the peculiarities of broke trusts, including:

· Is the broke trustee automatically sacked?

· If not, should the trustee be sacked and replaced?

· How does the trustee get refunded amounts it owes or has paid to creditors?

· What if the trustee also traded personally, or as trustee of another trust?

· Getting the liquidator or bankruptcy trustee paid, and whether there is GST on remuneration

· Other ways in which the ATO and SRO might get a jump on other creditors

Presenter: David W Marks QC, CTA,Queensland Bar

David is a commercial Silk at the Queensland Bar, practising principally in tax. He has a broader practice in commercial litigation, trusts and estates, and administrative law. He contributes to the life of the profession through his committee work for The Tax Institute and other professional bodies. He is a Chartered Tax Adviser and a registered Trust and Estate Practitioner. He received The Tax Institute’s Meritorious Service Award in 2013. David serves on the disciplinary panel of an international practitioner association.