Posts tagged "trust beneficiaries"

The ATO has spent much of the past year finalising its views on what kinds of transactions involving trusts and beneficiaries might cause them to poke and prod a bit further.

The Morrison government has pledged to “provide certainty for family trusts” and stop tax laws from being applied unfairly if it is re-elected, and says it “will not hesitate” to make legislative changes if needed. 

The Australian Taxation Office’s (ATO) recently released guidance on section 100A contains much that challenges the ‘lore’ that has grown up around acceptable uses for trusts in Australia. 

Some beneficiaries of trusts are finding that traditional protections insulating their funds are at risk, as the economy reels in the wake of COVID-19.