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Resources on demand

Family trust elections

The rules about family trust elections are complex and commonly misunderstood. It is important that advisers understand the concept of ‘family group’ and ‘distributions’ to avoid the ‘family trust distribution tax’ being inadvertently triggered. If triggered, family trust distribution tax, is a debt that is not subject to a review period, and the entity (making the distribution), and the individuals serving as directors and trustees, can be jointly liable.

In this webinar Linda 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’
  • what are the issues for testamentary trusts needing to make FTEs or IEEs
  • dealing with FTEs from a succession planning perspective.

Linda has also included a paper on Family Trust Elections for your reference.

[Running time: 1 hr 40 mins]