For individuals and small businesses, the use of trusts is widespread for a range of reasons. They can be exceptionally advantageous if used correctly, however, they can be complex in their design and burdensome in their obligations. It has long been said that a business structure can only be successful if the key personnel understand it – although unfortunately due to the complexity of trusts in Australia, it could be said that many trust controllers do not truly understand the nuances of the a trust. To bridge this gap, we are pleased to introduce a comprehensive series led by Joshua Goldsmith, a distinguished expert in tax and legal matters. This four-part series aims to provide an exhaustive exploration of trust essentials, tailored to accommodate both seasoned professionals and newcomers to the realm of taxation. Through these instructive sessions, participants will garner the requisite knowledge and insights to navigate the complexities of trusts with informed confidence.
The fourth and concluding instalment of this enlightening series is designed to tackle the increasingly salient subject of anti-avoidance provisions as they apply to trusts. This will include a discussion around Section 100A – the law as it stands, the ATO’s view of the law, and what it means for you in practice. There is no doubt that the ATO has put a target on trust arrangements but that is not to suggest that they cannot still be used effectively. There are a number of lesser known (but equally relevant) anti-avoidance provisions, as well as the general anti-avoidance provision in Part IVA, that can apply unfavourably to trusts. The aim of this final session is to provide a well-rounded perspective on anti-avoidance mechanisms, empowering participants to navigate these regulatory intricacies with informed caution and strategic finesse within the context of Australian tax law.
More information:
View and Register for the full 2024 Trust Series here