Members have been raising questions about the options available in relation to 2021-22 trust distributions and respective resolutions in respect of adult beneficiaries, having regard to the draft guidance material released on 23 February 2022 by the Australian Taxation Office (ATO), (Draft Taxation Ruling TR 2022/D1, PCG 2022/D1 and Draft Taxation Determination TD 2022/D1- the ‘February Draft Guidance’) and the subsequent pronouncements made by both the government and the ATO.
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