Trusts Under Attack
Online Workshop
A comprehensive guide to advising trust clients – incorporating the latest guidelines and warnings
Navigating the reimbursement rules in section 100A – what’s acceptable now?
Dispelling Div. 7A myths for loans and unpaid distributions
How to keep clients under the ATO radar
A Live Instructor Led Workshop
The Trusts Under Attack Online Workshop is your comprehensive guide to managing trust clients. It incorporates the latest rules and guidance in a comprehensive and cohesive way. This is essential training for all accounting team members.
In 2022, we have seen the ATO step-up its aggressive approach to the tax treatment of trusts and trust distributions. Many practitioners have been left confused by the ATO’s updated approach to section 100A in particular and are struggling to find the line between legitimate tax planning and scenarios that put their clients at risk. These recent developments simply add to the complexity that already exists when applying the tax rules to trust structures.
This 3-part series breaks down the ATO’s updated approach into practical terms and provides a framework for managing trust clients in the current environment. Using a case study driven approach, we work through the key tax issues that practitioners need to be comfortable with as they advise clients with trust structures. This includes practical guidance on the latest developments and the issues that were already causing headaches for practitioners and clients.
The Trusts Under Attack Online Workshop will test your knowledge and challenge convention. Make informed decisions, protect clients from risk and achieve the right tax outcomes – register today.
Register Me
AU $420 members
AU $499 non-members
Register Team*
AU $1,060 members
AU $1,250 non-members
Knowledge Shop members, login for the discounted rate.
Details
Recorded: 25, 27 October & 2 November 2022
FPA accredited for a total of 6.75 CPD hours (30203, 30204 & 30205)
- 4.0 Technical competence
- 2.75 Regulatory compliance and consumer protection
Terms & conditions: All registrations to Knowledge Shop events are subject to our terms and conditions which include a cancellation policy. No refunds are provided for cancellations received 1 day prior to the webinar. No credits are available less than 2 hours prior to the event under any circumstances.
*Office registrations: Maximum 20 participants per firm (must have same email domain). The PD points for all attendees will be recognised and links will be provided to all attendees.
What we cover
Session 1: Protecting trust distributions from ATO attack
Who pays tax on trust income and why?
- Step by step guide on calculating how much tax the beneficiaries and trustee need to pay
- How to read a trust deed
- Dealing with the difference between accounting income, taxable income and distributable income
- Where practitioners are still getting it wrong
- Is it possible to protect your client from paying extra tax in the event of an ATO audit?
- Timing issues clarified
- Resident v non-resident beneficiaries
Section 100A: how the Commissioner is attacking distributions
- How the latest ATO guidance applies to common arrangements
- The steps your clients can take to stay under the ATO radar
- Identifying low-risk and high-risk scenarios
- Retaining profits in a trust
- Managing distributions to entities with losses
Session 3: Dealing with different types of income and minor beneficiaries
Capital gains made by trusts
- Options for ensuring that beneficiaries are taxed on capital gains rather than the trustee
- Using the streaming rules to ensure the best possible tax outcome
- How to ensure streaming of capital gains is tax effective
- The ATO’s latest guidance on capital gains being distributed to non-resident beneficiaries
Franked dividends passing through a trust
- When the ATO’s approach to calculating trust income can cause major problems and options for dealing with this
- Using the streaming rules to improve tax outcomes
- Applying the holding period rules when dividends flow through a trust
Testamentary trusts and minor beneficiaries
- Understanding when distributions to minor beneficiaries can be taxed at normal tax rates
- Applying the new integrity rules in practice
Session 2: Key risks and opportunities
Division 7A and trusts
- How trusts can easily fall within the scope of Division 7A
- Identifying common problem areas
- Strategies for avoiding deemed dividends
- The ATO’s latest approach to unpaid distributions owed to companies
- Step by step practical guide to keeping out of trouble
- Dealing with historical sub-trust arrangements
Family trust elections
- Checklist of situations when your client should consider making a family trust election
- How making an election can improve the tax outcome for beneficiaries
- Does the opportunity outweigh the risk?
- How to get the timing right
- Using family trust elections to manage common problem areas
Our presenter
Michael Carruthers
Michael is an adviser, author, in demand presenter, mentor to Knowledge Shop’s technical team, and is well known for his capacity to translate highly technical information into tangible and useable advice for the profession. He has a knack for seeing through the complexity and helping advisers work through highly technical issues with certainty and accuracy.
Michael works with advisers every day to help them negotiate and implement the constant tide of change impacting the industry.
He is a member of the advisory panel for the Board of Taxation and is a member of the reference group for the Board’s review of small business concessions. He was also an expert panel member for the Board’s review of tax impediments facing small business.