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Thomson Reuters Trusts Tax Bulletin

In this issue, we cover a range of topics affecting you and your clients including:

  • Allocation of professional firm profits
  • Some things stay the same, but the numbers have changed: Draft PCG 2021/D2 - Allocation of professional firm profits
  • Testamentary trusts and excepted trust income - the new normal
  • Section 100A: why so much attention?
  • Ex-spouses attacking trust assets
  • Trust distributions, Pt IVA, and evidence of who "might reasonably be expected" to have received the assessable income
  • Tax equalisation clauses in wills - devil is in the detail
  • Trusts and the rule in Murphy's Law
  • Sub Trust Arrangements - Deadlines approaching and no light at the end of the tunnel
  • A cautionary tale for family enterprises and their advisers: discretionary trusts, journal entries, etc - McCarthy v Saltwood

We also cover the latest:

  • Legislative announcements and developments
  • Case law development
  • Rulings and other ATO documents
  • ATO administrative practice
  • State taxes
Thomson Reuters Tax News Team
 

Lawyer in Profile

Leigh Baring
Leigh Baring
Partner
PH: 61 3 9258 3673

Leigh is a partner in the Maddocks Tax & Revenue team.

Leigh regularly provides advice on:

  • structuring of businesses and transactions;
  • mergers and acquisitions;
  • corporate reorganisations and distributions;
  • sale of businesses;
  • demergers;
  • capital raisings;
  • joint ventures and property developments;
  • international tax (both inbound and outbound);
  • succession planning; and
  • liquidations.

His advice covers both direct and indirect tax considerations.

Leigh advises Australian and multinational companies, high net worth individuals, accountants and financial advisers on all areas of taxation law.