Webinar On Demand - Are Family Trusts Under Siege?

1 CPD Point – Substantive Law

Over the past 18 months there have been some considerable developments concerning Family Trusts arising from both the Australian Taxation Office (ATO) and the Courts.

Discretionary (Family) Trusts can be an efficient way to get appropriate tax outcomes and commercial, family and estate flexibility. However, the trade-offs include the inherent complexity of trust law and the Tax Commissioner’s close scrutiny of trust dealings designed for positive tax outcomes. The taxpayer’s onus of proof in tax disputes can mean that these tax and trust law complexities won’t go away no matter how much you want to work around them.

This webinar will look at some of the challenges facing tax practitioners, trustees and beneficiaries – and recent developments including:

• The ATO position on Section 100A Reimbursement Agreements and ordinary family or commercial dealings;
• Managing unexpected tax outcomes with disclaimers;
• How the ATO scrutinises the trust arrangement; and
• Recent developments in the law dealing with beneficiary rights, and how they may be relevant in tax disputes.

This webinar is suitable for trustees and their professional advisers and lawyers and assumes basic knowledge of the operation of trusts. The webinar is pitched at an intermediate level.

Legal CPD:

WA legal practitioners (QA Provider ID 29250)

1 CPD point, Competency Area 4 – Substantive Law. To ensure you receive your CPD Points for this event, please provide us with your Legal Practice Board Practitioner ID during registration. Note: CPD Points are only uploaded to the Legal Practice Board after the Webinar On Demand is viewed. This is not an interactive activity.

Legal practitioners outside of WA

If you consider that this webinar satisfies your individual requirement, or is relevant to your immediate or long-term professional development needs, you may claim 0.5 CPD points for every 30 minutes of attendance and participation.

Accounting CPD:

1 CPD Point

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Presenter Damian O’Connor
Managing Principal of the specialist taxation law firm, Tax + Law.

Damian is a tax lawyer with more than 40 years’ experience in tax and commercial and family legal issues in Melbourne and Brisbane. His experience includes 23 years with the Australian Taxation Office, and as a tax partner with national law firms. Damian is recommended as a Leading Tax Lawyer in Doyle’s Guide and recognised by Best Lawyers as a tax lawyer. He has been involved with almost every aspect of the world of tax during that time, and if he hasn’t dealt with a tax or legal issue personally, he knows someone who has.