Australian Trusts Tax Handbook 2015-16
Publication Date :
15 Jul 2030
The Australian Trusts Tax Handbook 2015-16 is a practical guide to the rules relating to the taxation of trusts to assist accountants and tax practitioners when dealing with this common but complex topic. The Handbook outlines the relevant trust law concepts â€“ particularly the importance of the trust deed â€“ that play a key role when determining the tax position of the trustee and beneficiaries. Current to 30 June 2015, the Australian Trusts Tax Handbook 2015-16 is streamlined to meet the needs of practitioners and advisers and brings together all the key trust tax provisions and concepts into the one publication with easy access to a number of trust deed clauses and plain English explanations, supported by numerous examples, tips, and warnings. There are also definitional tables and step-by-step guides to calculating the income and net income of a trust, streaming capital gains and franked distributions, making effective trust distributions and drafting distribution minutes. Australian Trusts Tax Handbook 2015-16 includes new commentary on all key developments that have arisen in the 2014-15 income year, as well as updated commentary, including: the proliferation of complex business structures involving trusts; and the surge in court applications to vary a trust or extend its life to minimise tax. And updated commentary on: the proposed new tax regime for managed investment trusts; how trusts are created, the types of trusts and business structures involving trusts; the Board of Taxation's review into Division 7A; and present entitlement and unit trusts, disclaiming present entitlement, assessing the trustee in relation to non-resident beneficiaries, and how to determine net income. The Handbook also includes detailed commentary on small business CGT relief, the impact of Division 7A on trusts (particularly in relation to unpaid present entitlements) and the application of the anti-avoidance rules to trust arrangements. AustralianÂ Trusts TaxÂ Handbook is available onÂ Thomson Reuters'Â Checkpoint online platform (updatedÂ inÂ June andÂ November each year), and isÂ also available as an eBook on the Thomson Reuters' Proview eReader.