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Thomson Reuters Trusts Tax Bulletin

Last revised on : 06-07-2021

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

Julia Tonkin
Julia Tonkin
Partner
+61 3 9258 3318
julia.tonkin@maddocks.com.au

Qualifications: BA, LLB, University of Melbourne

Julia is a Partner in Maddocks Corporate and Private Clients team. Julia has extensive expertise in:

  • estate planning, structuring for succession of ownership and control of private and family businesses.
  • charities and not-for-profit space.

Julia's clients include high net worth individuals and families and privately held businesses.

Clients value Julia's empathic, common sense yet technically sound approach to complex legal (and often interpersonal) issues.

She has been recognised as an Accredited Specialist by The Law Institute of Victoria with an accreditation in Wills & Estates Law. She has also been recognised in Doyles Guide for Wills, Estates & Succession Planning Law Recommended - Victoria in 2023.