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104382
Individual Podcasts

Making Trust Distributions to Non-Residents

Care needs to be taken with the income tax obligations when a non resident is included as a beneficiary of a trust. As the onus can fall on the trustee to ensure the correct tax procedures are followed, this session is a timely reminder of the issues to consider, including: How
PRESENTED BY Paul Hockridge Principal - Hockridge Advisory , Melbourne

Date/Time

About the Podcast

Care needs to be taken with the income tax obligations when a non resident is included as a beneficiary of a trust. As the onus can fall on the trustee to ensure the correct tax procedures are followed, this session is a timely reminder of the issues to consider, including:

  • How section 98 ITAA 1936 applies to trustees in relation to non resident beneficiaries, including:
    • the rate of tax that applies
    • treatment of the tax paid for the non resident beneficiary
    • the type of income that attracts the section 98 tax rules
  • When may the withholding tax rules apply?
  • Tax implications for distributions that include capital gains (Peter Greensill Family Co Pty Ltd (Trustee) v Commissioner of Taxation [2021] FCAFC 99, TD 2022/12, TD 2022/13)
  • Do distributions to non residents have to be paid and if so:
    • whether the receipt needs to be acknowledged?
  • How having a non resident beneficiary of a deceased estate can affect deceased estate income tax return lodgement requirements (LI 2022/8 Table O)
  • Can double tax agreements affect the taxing of distributions to non residents?
  • Practical examples

Presented By

Paul Hockridge
Principal, Hockridge Advisory Melbourne, Vic

Paul Hockridge, the principal at Hockridge Advisory, a chartered accountant and chartered tax advisor, has over 30 years specialist tax advisory experience.

For over 20 years he was a partner in Big 4 and second tier chartered accounting firms and a multi-family office. Paul’s focus is on assisting high wealth families and private businesses and the accounting and law firms which advise them. Paul also provides litigation support services.

Paul is also a senior fellow in the Law School at the University of Melbourne, where he teaches in the Masters program.

CPD Information

0.7 CPD hours

Enquiries/Assistance

If you need assistance or have an enquiry, please do not hesitate to contact us, on (03) 8601 7700 or email: [email protected]

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