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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

Paul Ellis
Paul Ellis
Special Counsel
+61 3 9258 3524
paul.ellis@maddocks.com.au

Qualifications: LLB, Deakin University, BA (Political Science), Monash University

Paul is a Special Counsel in Maddocks Government and Not-for-Profit Commercial team. He specialises in:

  • the establishment, governance, operations, regulation and administration of charities and other not-for-profit entities,
  • in commercial arrangements for the procurement or supply of goods and services, including technology services, and
  • in compliance and enforcement activities undertaken by government agencies.

Paul is Maddocks' main authority in relation to the Personal Property Securities Act 2009.

He has an in-depth understanding of the government sector, as his experience prior to Maddocks includes 13 years with the Victorian Department of Justice.