The ATO's ruling TR 2010/3 and Practice Statement PS LA 2010/4 have significant implications for clients operating a family trust with a corporate beneficiary. The Tax Institute was fortunate to have secured two senior ATO presenters for this event who explainrf the ATO's position, in addition to senior tax practitioners who examined the implications of the ATO's views.
The emergence of the UPE issue also provides an opportunity for practitioners to revisit some of the mechanics and provisions of Division 7A which may have been overlooked in the past, as well as some other recent changes to the legislation. This event covered recent changes to Division 7A as well as focussing on the "sleeper"? issue of calculation of a company's distributable surplus.
Please note that the paper presented by Ross Prosper was written by Greg Nielsen and was originally presented at the Tasmanian Convention 2011 on 13 October and can be downloaded there.