This video is a filmed session from the 30th National Tax Convention, powerpoint slides are incorporated with the presentation.
This video considers the practical and taxation issues arising on the vesting of trust estates including:
- the process involved in voluntarily vesting a trust deed, nominating a termination date, distributing all income and trust assets, and addressing the trustee's right of indemnity and any claims for remuneration
- the ability to extend the vesting date (and the recent decision in Re Arthur Brady Family Trust [2014] QSC 244)
- considering the issues regarding absolute entitlement' and the appropriate CGT event upon termination of the trust estate (for both discretionary and unit trusts)
- tax implications and rectification of defective distributions.