2024 Trust Series - Part 1 (webinar recording)

For individuals and small businesses, the use of trusts is widespread for a range of reasons. They can be exceptionally advantageous if used correctly, however, they can be complex in their design and burdensome in their obligations. It has long been said that a business structure can only be successful if the key personnel understand it – although unfortunately due to the complexity of trusts in Australia, it could be said that many trust controllers do not truly understand the nuances of the a trust.To bridge this gap, we are pleased to introduce a comprehensive series led by Joshua Goldsmith, a distinguished expert in tax and legal matters. This four-part series aims to provide an exhaustive exploration of trust essentials, tailored to accommodate both seasoned professionals and newcomers to the realm of taxation. Through these instructive sessions, participants will garner the requisite knowledge and insights to navigate the complexities of trusts with informed confidence.

8 March 2024 Fundamentals of trusts in Australia

The inaugural webinar in this enlightening series serves as a comprehensive introduction to the core tenets underpinning the concept of trusts– for example, why they exist, types of trusts, advantages and disadvantages, essential principles, key roles and characteristics of a trust. Intended to establish a robust foundation for subsequent sessions in the series, this initial webinar aims to not only enlighten those who are relatively new to the subject matter but also offer seasoned practitioners timely and crucial refreshers on indispensable trust concepts.

Key Learning Objectives:

1. Fundamental Trust Concepts: Gain an in-depth understanding of the essential principles and mechanics underpinning trusts, including their varied types and inherent advantages and disadvantages.
2. Taxation Implications: Acquire comprehensive knowledge of the tax impact of different types of trust income, including capital gains, franked distributions, and other forms of net income.
3. Trust Loss Rules: Master the intricate regulations surrounding the carrying forward of capital and revenue losses in trusts, as well as the tests required to claim such deductions.
4. Anti-Avoidance Provisions: Develop a keen understanding of Section 100A and other anti-avoidance provisions, including the general anti-avoidance rule in Part IVA, that have implications for trusts.
5. Practical Application: Learn how to apply these principles effectively in real-world scenarios, including best practices for compliance and maximising the benefits of trust structures.
6. Regulatory Landscape: Gain a comprehensive overview of the Australian Taxation Office’s perspective on trusts, thereby equipping you to better navigate regulatory scrutiny.
7. Latest Trends and Developments: Stay updated with the most recent changes in laws and regulations affecting trusts in Australia.

• Accountants and Tax Consultants
• Financial Advisors and Planners
• Auditors
• Legal Professionals