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Recorded Webinars

Recorded Webinar: Robbing Peter to Pay Paul: Beware Reimbursement Agreements and Section 100A

Generally, a beneficiary is taxed on their share of trust income, rather than the top marginal tax rate applying to the trustee. One exception is if the distribution arises out of a “reimbursement agreement” under sec. 100A of the ITAA 1936. Practitioners are eagerly awaiting guid
PRESENTED BY Michael Butler Tax and Revenue Partner - Finlaysons , Adelaide

Date/Time

About the Webinar

Generally, a beneficiary is taxed on their share of trust income, rather than the top marginal tax rate applying to the trustee. One exception is if the distribution arises out of a “reimbursement agreement” under sec. 100A of the ITAA 1936. Practitioners are eagerly awaiting guidance from the ATO by way of the release of a draft ruling on sec. 100A. In the meantime, audit activity is on the rise and, shortly before last Christmas, the Federal Court (Logan J) handed down a landmark decision on sec. 100A. This session aims to provide you with guidance on determining when the ATO may consider that a reimbursement agreement exists, including:

  • What is a “reimbursement agreement” and how far can sec. 100A go?
  • Exception for “ordinary family or commercial dealings”
  • Recent clarification on meaning of OFOCDs in Guardian AIT Pty Ltd v Cmr of Taxation
  • What are the implications if sec. 100A is triggered?
  • How many years can the ATO amend assessments?
  • What is the status of the ATO’s draft ruling on sec. 100A—what has the ATO indicated the ruling will contain?
  • Can UPEs be in the firing line that have arisen from:
    • distributions to adult children?
    • distributions to loss entities?
  • Are there any strategies to tidy up “at risk” loans (e.g. gift, assign, forgive or set off)—should trust distributions just be paid?
  • Interaction of sec. 100A, Div. 7A and Pt IVA

Presented By

Michael Butler
Tax and Revenue Partner, Finlaysons Adelaide, SA

Michael Butler is a Tax & Revenue Partner at Finlaysons Lawyers in Adelaide.

Michael has spent over 35 years working solely in taxation law – he is a true specialist in his field.  His deep experience in tax law means he can provide advice that considers each client’s unique situation and suggest tax-effective options and solutions to help clients achieve their commercial goals. 

Michael’s expertise at state, federal and international levels includes income tax, capital gains tax, GST, Wine Equalization Tax (WET), fuel tax credits and carbon tax, as well as stamp duty, payroll tax and land tax.  Michael also has extensive experience advising on international taxation matters, including Australian taxpayers investing and carrying on business offshore.

Michael's expertise is acknowledged in Best Lawyers Australia 2022 for Tax Law, Superannuation Law, Trusts & Estates, and Wealth Management/Succession Planning Practices; including as 2022 Lawyer of the Year in Trusts & Estates.

Michael has been also listed in Doyle’s Guide as a Pre-eminent SA Tax Lawyer, with Finlaysons listed as a First Tier SA Tax Law Firm.

Who Should Attend?

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

CPD Information

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

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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