trust

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Section 99B – TD 2024/D2 – you can’t always get what you need

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Section 99B – TD 2024/D2 – you can’t always get what you need

On 31 July 2024, the ATO released draft TD 2024/D2 and draft PCG 2024/D1 on aspects of section 99B.

While we welcome the ATO guidance on section 99B, it is not what taxpayers and advisors want– section 99B requires legislative amendment. However, is the draft ATO guidance what advisor’s need?

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The Top Three Key Cross-Border Tax Issues In The Estate Plan

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The Top Three Key Cross-Border Tax Issues In The Estate Plan

The increased global mobility of individuals and online transactions, together with the deregulation of financial markets and exchange controls since the 1980s, mean that cross-border estate tax issues are, in many instances, “the new black”.

Sladen Snippet – concept of unit trust clarified for the public trading trust rules

Sladen Snippet – concept of unit trust clarified for the public trading trust rules

The Full Federal Court has provided some welcome clarification as to what constitutes a unit trust when it upheld an appeal by the Commissioner of Taxation, in the decision of CoT v ElecNet (Aust) Pty Ltd (Trustee). In the original decision (discussed in a previous Sladen Snippet) the Federal Court found that a trust established for the purpose of assisting workers when they are retrenched was a unit trust, on the basis of the expanded definition of “unit” in the public trading trust rules.