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Recorded Webinars

Recorded Webinar: Are the ATO and Beneficiaries Putting a Blowtorch to Trustee Distribution Resolutions?

Trustee distribution resolutions seem to have been all about section 100A in recent times. However, this isn’t the only piece of armoury in the ATO’s weaponry to deem trustee distribution resolutions invalid, with the potential to invoke tax on the trustee at the highest marginal
PRESENTED BY Elizabeth Allen Special Counsel - Macpherson Kelley , Brisbane

Date/Time

About the Webinar

Trustee distribution resolutions seem to have been all about section 100A in recent times. However, this isn’t the only piece of armoury in the ATO’s weaponry to deem trustee distribution resolutions invalid, with the potential to invoke tax on the trustee at the highest marginal tax rate. Not to mention disgruntled beneficiaries who may not see eye to eye with the trustee’s decision making. This session looks into the procedures and processes required to assist in ensuring a distribution resolution won’t be shot down, including:

  • Content in the trust deed to consider, including:
    • the “income of the trust estate” and “net income” (TR 2012/D1)
    • vesting date of the trust and any prospective trust beneficiaries
  • Streaming of capital gains and franked distributions, including:
    • the time limit requirements
    • factoring in non assessable components (ie. 50% CGT discount, small business CGT concessions)
  • Tips to avoid triggering family trust distribution tax
  • Is a distribution from an asset revaluation reserve allowed and if so, how is it handled? (Fischer v Nemeske Pty Ltd [2016] HCA 11)
  • Are trust resolutions valid when distributions are contingent upon certain events occurring? (Lewski v Commissioner of Taxation [2017] FCAFC 145)
  • When validity of resolutions can be questioned if not all potential beneficiaries are properly considered? (Owies v JJE Nominees Pty Ltd [2022] VSCA 142)
  • The impact of section 100A ITAA 1936
  • Practical examples of effective processes and resolutions

Presented By

Elizabeth Allen
Special Counsel, Macpherson Kelley Brisbane, QLD

Elizabeth Allen is a Special Counsel at Macpherson Kelly. She acts for a wide range of private, corporate and HNWI clients with a primary focus on tax structuring and tax dispute work, concentrating on the delivery of outcomes and solutions that give her clients the confidence to keep doing what they do best. Elizabeth also acts for clients on various commercial matters including business sales and acquisitions.

When working with Liz, clients are engaged and their input is valued when it comes to finding solutions relevant to their circumstances. Clients are part of the process, not relegated to the status of outsiders looking in.

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, Lisa Tran on (03) 8601 7709 or email: [email protected]

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