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  2004

The new section 109XB - what you need to know

Source: New South Wales

Published Date: 11 Nov 2004

 
This seminar series was held in:
- Sydney on 2 November 2004
- Parramatta on 11 November 2004.

These days a family trust with a corporate beneficiary is a fairly common structure. The former Section 109UB extended the operation of Division 7A to certain loans by a family trust where a corporate beneficiary had an unpaid present entitlement. At the suggestion of the Board of Taxation Section 109UB was amended to overcome deficiencies. The new Section 109XB extends the operation of Division 7A even further than the former Section 109UB. It is important to note that the changes apply retrospectively. A good understanding of the new Section 109XB is vital for such practitioners whose clients use this family trust structure.

Section 109U(X)B - Squib or Double Bunger?

Author(s): Ken Schurgott
Materials from this session:

Details

  • Published On:11 Nov 2004
  • Took place at:All Seasons Premier Menzies, Sydney, and Crowne Plaza, Parramatta

The material is copyright. Apart any fair dealing for the purpose of private study,

research critisism or review, as permitted under the copyright Act, no part may be rerpoduced by any process without written permission from The Tax Institute.

Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

This material is copyright. Apart from any fair dealing for the purpose of private study., research, critisism or review, as permitted under teh copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.

Unless expressly stated, opininons are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

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