Rethinking Trusts (& matching client needs) Day

The right decisions from the start and through the lifecycle of a trust client

Our line-up

Neil Brydges
Principal Lawyer, Sladen Legal

Michael Carruthers
Tax Director, Knowledge Shop

Tiffany Douglas
Senior Tax Trainer, TaxBanter

The Rethinking Trusts (and matching client needs) Day is for those who want to get to the heart of the key issues that arise when working with clients who are contemplating using a trust or who already carry on business or investment activities through a trust.

The trusts landscape has changed significantly over the last few years with changes to key ATO guidelines and landmark court decisions. The rationale for why a client established a trust structure many years ago might have evolved and the shifting boundaries imposed by the regulators might be impacting on the effectiveness of the structure. For clients who use trusts for commercial or personal reasons, the outcomes might be different to what they had assumed.

Using a single case study threaded throughout the day, each presenter will walk through not only the essential technical details of managing client scenarios involving trusts, but the practical application – the decision points, timing considerations, calculations and increasingly, the direction of the regulators.

Using our case study characters, Mr & Mrs Jones, we’ll take you on a journey through their ambitions, their commercial and family needs, identifying the key issues, ‘red flags’, and the approach to take when working with a complex set of factors.

One day only. Don't miss it.

Total 6.25 CPD Hours (est.)

Dates & Details

EARLY BIRD ENDS 30 APRIL 2024

Melbourne
Friday, 31 May 2024
DoubleTree by Hilton Melbourne
270 Flinders St, Melbourne VIC 3000

Time
8:30am registration
9:00am - 5:00pm Rethinking Trusts Day

Price
Early bird member: $620
Early bird non-member: $670

General member: $685
General non-member: $735

FAAA accreditation pending

Knowledge Shop members, register through the portal for the discounted rate (new portal | retiring portal)

Terms & conditions: All registrations to Knowledge Shop events are subject to our terms and conditions which include a cancellation policy. No refunds are provided for cancellations received 5 working days or less from the event date, you can however send a substitute. Between 14 and 6 working days, a credit note will be provided. Cancellations more than 15 working days from the event will be provided with a full refund.

What we cover

How clients use trusts and the issues triggering the ATO’s attention

w Michael Carruthers

There are many reasons why clients might decide to utilise a trust structure, but tax planning is often one of the key reasons why clients will gravitate towards using a trust. With the ATO clamping down on common strategies, how do we ensure that trust distributions are still tax-effective?

Following Mr & Mrs Jones’ on their journey of using trusts for business and investment activities we explore the issues that often arise and demonstrate how common arrangements can trigger unfavourable outcomes and attract ATO attention, including:

  • What not to do when helping clients with year-end distribution processes
  • The latest thinking on section 100A
  • Practical guidance for staying under the ATO’s radar when distributing income to adult children
  • Could Part IVA apply to trust distributions?

Hidden dangers lurking within the tax system

w Tiffany Douglas

There are many hidden dangers lurking in the tax system for trust clients. We explore how and why problems occur and what needs to be done to avoid them.

We look at the issues that often slip through the cracks and aren’t picked up until it is too late, including:

  • Section 99B and receiving distributions from a foreign trust or deceased estate
  • Distributions to foreign resident beneficiaries
  • Franking credit problems areas

Common legal issues and challenges

w Neil Brydges

Mr & Mrs Jones are in a world of pain. We demonstrate how to help clients get the structure and operation of a trust right by demonstrating the things that so easily can go wrong.

We explore what trustees and advisers should be doing to reduce the risk of trust arrangements being challenged, including:

  • Recent developments around the steps that trustees should be taking when considering who should receive distributions
  • Amending trust deeds
  • Winding up trusts

The traps when distributing to related entities

w Michael Carruthers

Managing trust distributions between related entities can be a high-risk area. There are a range of complex tax issues that can be difficult to navigate, exposing clients to unwanted ATO attention.

We explore the most common issues that arise when distributions are made to related companies and trusts, including:

  • The issues that need to be managed when distributing income to loss entities
  • The latest Division 7A developments
  • Family trust elections and interposed entity elections and why it is so easy to mess things up.

Our presenters