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Family trust elections offer considerable benefits to family groups. However, the consequences for getting it wrong – family trust distribution tax at 47% plus the general interest charge – are dire. Adding to the mix is that family trust elections are an area of ATO focus.
This session will work through some of the key issues around FTEs (and IEEs) including:
When and how to make FTEs and IEEs
Groups with more than one test individual
Deaths and relationship breakdowns
Sales of businesses (or entities) in whole or part
Strategies when a liability for family trust distribution tax arises.
Family trust elections offer considerable benefits to family groups. However, the consequences for getting it wrong – family trust distribution tax at 47% plus the general interest charge – are dire. Adding to the mix is that family trust elections are an area of ATO focus.
This session will work through some of the key issues around FTEs (and IEEs) including:
When and how to make FTEs and IEEs
Groups with more than one test individual
Deaths and relationship breakdowns
Sales of businesses (or entities) in whole or part
Strategies when a liability for family trust distribution tax arises.