From 4.00pm 13 August 1998 a closely held trust that makes a distribution to another trust, must in many cases identify the beneficiaries who will ultimately be entitled to any taxable or tax-preferred distributions. Where the ultimate beneficiaries are not correctly identified within the specified period a penalty is imposed. The ATO considers the new rules are 'conceptually manageable'. The author is not so sure that the new rules are commercially or practically manageable.
Miscellaneous
1999
Closely held trusts
Source: South Australia
Published Date: 13 Jul 1999
Details
- Published By: Joe Lombardo
- Published On:13 Jul 1999
- Took place at:Hindley Parkroyal Adelaide, Adelaide
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Tags
Miscellaneous
1999
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