Posts tagged "trusts"

A tax structure used by leading sportspeople, celebrities, and even influencers will now come under the ATO's scrutiny, thanks to new rules which define some earnings from an individual's 'fame' as personal income.

The ATO has spent much of the past year finalising its views on what kinds of transactions involving trusts and beneficiaries might cause them to poke and prod a bit further.

The Morrison government has pledged to “provide certainty for family trusts” and stop tax laws from being applied unfairly if it is re-elected, and says it “will not hesitate” to make legislative changes if needed. 

The Australian Taxation Office’s (ATO) recently released guidance on section 100A contains much that challenges the ‘lore’ that has grown up around acceptable uses for trusts in Australia. 

The data — leaked by an anonymous source — is American, but this kind of thing happens in Australia too, UNSW associate professor Ann Kayis-Kumar explained.

Some beneficiaries of trusts are finding that traditional protections insulating their funds are at risk, as the economy reels in the wake of COVID-19.

Here are five common mistakes the ATO is taregtting this end of financial year — as well as how to avoid making them in your own business.

There are two tax issues the government seems unwilling to resolve: the taxation of trusts and anti-avoidance measure Division 7A.

By Ronen Palan, City, University of London

The so-called Paradise Papers may sound familiar — leaked documents from a law firm that sp…

Opposition leader Bill Shorten has defended his controversial plan to tax discretionary trusts at a flat 30% and placed energy prices, inter…

Tax experts say a possible plan by the Labor Party to treat family trusts like companies for tax purposes could have unintended consequences…

The small business community has hit back at the idea the Labor Party could propose changes to tax arrangements for family trusts, while tax…