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Trustees face a number of complicated tax issues when distributing trust income. The risk is heightened because trust dealings are always within the ATO's audit targets. Are you aware of the key issues that arise for trusts and what is currently attracting the ATO's attention?

One significant and recent theme is the focus on specific anti-avoidance provisions like section 100A. The ATO's compliance approach in respect of the application of section 100A to distributions of trust income from a family trust to members in that family is set out in PCG 2022/D1.

However, apart from 100A, trustees also need to consider a number of tax issues when distributing trust income each year – for example, any differences between trust income and taxable income, beneficiaries on-lending to the trust, non-resident and temporary resident beneficiaries receiving capital gains and whether any previous year losses can be used to reduce the net income of the trust.

We are running a workshop to work through case studies to help clients and advisers identify the current tax risks for their trusts. After this workshop, you will be able to identify:

• how to deal with existing entitlements that may reflect an exposure to section 100A
• when distributions of income from trusts to entities on lower tax rates can be a reimbursement agreement under section 100A
• when arrangements may fall within the scope of an ordinarily family or commercial dealing
• how to distribute capital gains to non-resident and temporary resident beneficiaries
• issues for trustees when distributing trust income, including resettlement considerations, differences between trust income and taxable income and applying previous year losses.

As this is such a hot topic, we are running this session in multiple locations.

We hope you can join us.

LOCATIONS

Cairns – 27 February – 12 noon to 2.00 pm – Pullman Cairns International – 17 Abbott Street, Cairns, Qld, 4870
Toowoomba – 28 February – 12 noon to 2.00 pm – 120 Russell Street, Toowoomba, Qld, 4350
Townsville – 28 February – 12 noon to 2.00 pm – Rydges Southbank Townsville – 23 Palmer Street, Townsville, Qld, 4810
Sunshine Coast – 2 March – 12 noon to 2.00 pm – Twin Waters Golf Club – 151 Ocean Drive, Twin Waters, Qld, 4564
Gold Coast – 3 March – 12 noon to 2.00 pm – Southport Golf Club – Slatyer Avenue, Southport, Qld, 4215
Mackay – 7 March – 12 noon to 2.00 pm – Rydges Mackay Suites – 9 Gregory Street, Mackay, Qld, 4740
Rockhampton – 8 March – 12 noon to 2.00 pm – Empire Apartment Hotel – 5 East Street, Rockhampton Qld, 4700