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Resources on demand

A close look at section 99B: the next sleeper waiting to spring to life?

Section 99B shares its origins with section 100A. And, like section 100A, section 99B potentially applies more broadly than its authors intended.

With family wealth increasingly distributed in different countries, and distributions of capital increasingly being made to the next generation (including Australian tax residents), section 99B may cause some sleepless nights when clients and advisers realise it’s the trust’s capital that may be subject to tax.

In this webinar, partner Fletch Heinemann will work through a series of case studies to examine:

  • the circumstances when section 99B applies to distributions from trusts
  • the extensive reach of section 99C
  • how to calculate the amount that is subject to tax under section 99B (and the exclusion for certain types of ‘corpus’)
  • the interaction of section 99B with the CGT provisions
  • how section 99B applies to deceased estates
  • traps for individuals immigrating to Australia, and emigrating from Australia.

At the end of this webinar, you will be able to identify circumstances where section 99B needs to be considered and options to manage any section 99B risks.