Trusts can be excellent tax planning and asset protection vehicles, but recent developments have called into question their ability to function as either. This year's Trust Intensive focused on current events that impacted on the way that trusts and their beneficiaries are taxed, including:
- the current state of play on cloning, splitting and resettlements
- the current position with regard to Division 7A
- obtaining certainty with respect to who will be taxed on distributions vis-a-vis Bamford
- what asset protection benefits may be afforded through the use of a trust.