Unpacking the Past, Present, and Future of UPEs
The Full Federal Court’s decision in Commissioner of Taxation v Bendel (February 19, 2025) has redefined the tax landscape for trusts, ruling that unpaid present entitlements (UPEs) between a corporate beneficiary and a trust do not constitute a loan under s109D(3) of Division 7A. This outcome overturns years of ATO guidance and necessitates a reassessment of trust distributions and tax compliance obligations.
The ATO on 18 March 2025 lodging an application for special leave to appeal to the High Court, and the ATO’s interim decision impact statement on 19 March 2025 on the Full Federal Court decision, further add to the uncertainty of the coming months for advisors.
This session will give advisors an update on this changing landscape and what and the practical considerations for practitioners managing trust structures during the current lodgment season and beyond.
Register now for this webinar and stay informed on this evolving landscape.
Who should watch
Accountants, lawyers, and others interested in the impact of this High Court decision on trusts, and taxation .
Level of expertise
This webinar is for persons with some experience or interest in trusts and taxation and who are looking to improve their knowledge.
Presenters
Neil Brydges
Principal, Accredited Specialist in Tax Law
Taxation law is a complex area. Neil’s aim is to provide technical expertise to clients, commercially applied and in a friendly and approachable manner.
Neil’s practice involves advice, audits, disputes, and transactions. The client mix includes both family groups and business enterprises. Neil also regularly assists professional advisors, including tax agents, accountants, and financial advisors, to understand complex legal issues and help them to better assist their own clients.
Philippa Briglia
Special Counsel
Kaitilin is a Principal Lawyer in the Business Law team, and a specialist tax lawyer with an unparalleled passion for her craft. Renowned for her ability to unravel and demystify the complexities of taxation law, she excels in providing clear, concise guidance to clients and their advisors.
Kaitilin’s clients include (ultra) high-net wealth individuals, family groups and business enterprises, acting for them in reviews, audits and disputes, and in relation to domestic and international transactions.