The declaration of trusts, the transfer of assets in and out of trusts, and the transfer of assets between trusts, continue to be difficult areas for tax practitioners. This convention paper considers the effect of CGT on trusts.
In particular, case studies are used to demonstrate how all the E events are treated, with particular emphasis on:
- declaration of trusts
- non assessable distributions (incl CGT discount and small business concessions)
- in specie distributions
- asset revaluation reserves
- non resident issues
- winding up and vesting trusts.