Australia: Webinar: Reimbursement agreements – the ATO’s new attack on discretionary trusts
Last Updated: 12 September 2015

Event details





September 23, 2015
12:15pm for 12:30pm - 2:00pm
Own device T - +61 7 3231 2400

The ATO has recently included reimbursement agreements in its compliance program. This will affect discretionary trusts carrying on business or holding investment assets.

The consequences of not identifying a reimbursement agreement can be severe: the offending trust distribution is deemed not to have been made for tax purposes, which can mean taxable income at top rates, plus interest and penalties.

In addition, there is usually no 2 year or 4 year amendment period. The ATO has an unlimited audit review period and so there will often be more at stake.

In this webinar, partner Fletch Heinemann will discuss:

  • what constitutes a reimbursement agreement
  • common examples of reimbursement agreements in practice, including circumstances where a simple UPE can be a reimbursement agreement
  • a quick tour of the case law to identify red flags
  • the ATO's new fact sheet
  • case studies on what qualifies as either 'ordinary commercial' or 'ordinary family' dealings.

We hope that you are able to join us.

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