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Resources on demand

Family trust elections

1 hour session. The rules about family trust elections, in particular who is part of the ‘family group’ and what are ‘distributions’, are quite complex and commonly misunderstood by advisers.

$110.00

Description

The rules about family trust elections, in particular who is part of the ‘family group’ and what are ‘distributions’, are quite complex and commonly misunderstood by advisers. This could result in the family trust distribution tax being triggered. It is important that advisers understand the concepts of ‘family group’ and ‘distributions’. Family trust distribution tax, if triggered, is a debt that is not subject to a review period and for which the entity (which makes the distribution), together with the individuals who are directors or trustees, can be jointly liable .

In this session Linda and Tom will cover:

  • when an FTE or IEE is required
  • what the implications of making an FTE and IEE are
  • who is liable to pay family trust distribution tax
  • what ‘distributions’ are
  • who is part of the ‘family group’
  • a case study highlighting the issues.