The effect of both the trust streaming legislation and the ATOs withdrawal of IT 328 and 329 and has meant that trust distributions need to be effected no later than 30 June 2012 to prevent any risk of an adverse tax assessment.
The release of ATO Draft Ruling TR 2012/D1 has necessitated that the format of resolutions will need to be amended for the current and future years.
This event provided practical insights into the difficult issues confronted by tax professionals in this area. It worked through a range of case studies and sample distribution minutes. This event was essential for anyone who administers and provides tax advice concerning private discretionary trusts.