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  2020

Business Structures Part 5: Family trust elections

Source: Western Australia

Published Date: 10 Jul 2020

 
The trust loss provisions contained in Schedule 2F of the 1936 Tax Act as they relate to family trust elections are extremely complex and there are harsh consequences for entities and their directors in making distributions outside the family group. This part looked at:
  • when may a family trust election (FTE) or an interposed entity election (IEE) need to be made?
  • what are distributions?
  • who is part of the "family group'?
  • who is liable to pay family trust distribution Tax?
  • varying test individuals and revoking FTEs and IEEs
  • passing control of trusts on death and dealing with FTE issues.

Family trust elections

Author(s): Linda Tapiolas
Materials from this session:

Details

  • Published On:10 Jul 2020
  • Took place at:Online

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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