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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

Georgia Borg
Georgia Borg
Lawyer
+61 3 9258 3554
georgia.borg@maddocks.com.au

Qualifications: LLB, University of Sheffield, LLM(CL), University of British Columbia

Georgia is a member of Maddocks Commercial team and assists in a variety of commercial and corporate matters for private, public and not-for-profit clients.

Her expertise includes advising on general commercial law, wills and estates law, charities and not-for-profit law along with corporate law.