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Recorded Webinars

Recorded Webinar: Family Trust Elections: Are Yours a Ticking Tax Bomb?

Family trust and interposed entity elections can unlock major tax advantages,  but those benefits can quickly unravel if the elections aren’t carefully monitored or are made unnecessarily. With the ATO ramping up reviews and issuing unexpected family trust distribution tax as
PRESENTED BY King Tan Consulting Principal, Fellow - The Tax Institute - Keypoint Law , Sydney

Date/Time

About the Webinar

Family trust and interposed entity elections can unlock major tax advantages,  but those benefits can quickly unravel if the elections aren’t carefully monitored or are made unnecessarily. With the ATO ramping up reviews and issuing unexpected family trust distribution tax assessments, it’s clear these elections are no longer a low-risk strategy. This session explores how once-beneficial elections can lead to harsh tax outcomes, and what you can do about it. Topics include:

  • Why you would make family trust or interposed entity elections and why, regardless of the short term benefits, you may decide not to
  • Why family trust and interposed entity elections aren't “set and forget” strategies
  • Are interposed entity elections being made when they don't have to be?
  • The family trust and interposed entity election issues in practice that:
    • the ATO are targeting in their reviews and audits
    • are causing inadvertent family trust distribution tax assessments
    • are within time limits to take action to minimise any tax damage 
  • How entities can be within the “Family group” in one financial year but not the next
  • How election decisions are influenced by a trust being either a discretionary or unit trust
  • Tips and strategies to avoid family trust and interposed entity election issues, when:
    • a test individual dies
    • an entity that is the subject of an interposed entity election is being sold
  • A checklist of “down the track” issues to be mindful of when deciding to make the elections for shorter term tax benefits

Presented By

King Tan
Consulting Principal, Fellow - The Tax Institute, Keypoint Law Sydney, NSW

King Tan is a senior lawyer with extensive experience acting in matters requiring strategic legal advice. King’s clients include corporate groups (listed and private), investment funds, private family groups and high net wealth individuals.
King’s practice focusses on:

  • Corporate and commercial transactions, including acquisitions and sale of assets and businesses, corporate restructures and debt and equity funding;
  • Taxation, including relating to both Federal taxes (such as income tax and capital gains tax) and State taxes (such as duty and land tax), and advisory and dispute matters; and
  • Private wealth, particularly in assisting clients with strategic business and personal succession plans, including establishing single family offices (both in Australia and overseas), implementing wealth preservation strategies and implementing a framework for multi-generational succession.

Who Should Attend?

This webinar is suitable for accountants advising in taxation matters – Australia wide. This webinar is for practitioners with some knowledge in this area and looking to improve their knowledge.

CPD Information

Accountants can claim up to 1 CPD hour. This webinar has been designed to run for 1 hour, however, webinar lengths can vary depending on the level of questions and discussion.

While TEN takes all reasonable care to include accurate and up-to-date information regarding CPD category classifications and compliance obligations, information regarding CPD point allocation are provided as a guide only. Allocation of CPD points is subject to the CPD requirements of your jurisdiction, personal circumstances and professional requirements. You are solely responsible for determining whether a particular product is appropriate for your CPD requirements.

Enquiries/Assistance

If you need assistance or have an enquiry, please do not hesitate to contact our Webinar Coordinator, Jason Hooker on (03) 8601 7709 or email: [email protected]

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