Family Trust Elections Webinar 2024
Recorded 4 April 2024. How to maximise opportunities while reducing risks.
The who, what, when & how of family trust elections
How to make the most of the concessions for family trusts
How to avoid triggering penalty tax rates
Recorded 4 April 2024
Family trust elections can be a vital tool in protecting trust losses, company losses and franking credits but can also cause significant tax problems for clients if they are used incorrectly. Once a mistake has been made in this area it is very difficult to fix the problem so understanding the rules and the key risk areas is crucial.
The Family Trust Elections Webinar will help your clients take advantage of the rules without triggering penalty tax rates under the family trust distribution tax rules.
Total 1.25 CPD Hours
While the family trust election rules have been in place for many years, practitioners still find the rules confusing and are not always sure when elections should be used or the best way to use them. The Family Trust Elections Webinar helps to clarify when and how to use them correctly.
- When family trust elections should be used
- Who can (and should) be the test individual for the election
- How to work through the family control test
- The timing rules for putting an election in place
- When retrospective elections can be made
- How to determine whether interposed entity elections are required
- The hidden dangers of using interposed entity elections
- ATO guidance on penalty tax for family trusts
- When elections can be revoked or varied
Michael Carruthers
Tax Director, Knowledge Shop
Michael is an adviser, author, in demand presenter, mentor to Knowledge Shop’s technical team, and is well known for his capacity to translate highly technical information into tangible and useable advice for the profession. He has a knack for seeing through the complexity and helping advisers work through highly technical issues with certainty and accuracy.
Michael works with advisers every day to help them negotiate and implement the constant tide of change impacting the industry. He was a long-term member of the advisory panel for the Board of Taxation and was a member of the reference group for the Board’s review of small business concessions.
He was also an expert panel member for the Board’s review of tax impediments facing small business.
Family Trust Elections Webinar 2024
Tax & Accounting
1.25 hours | 4 modules
Investment per person: $ 235.00
Team cost: $ 595.00
You can’t use team rate, please either signup or login to access team rates
CPD Hours: 1.25 hrs
FS
SMSF
Tax Accounting
General