Trusts are a commonly used business and investment structure in Australia. This course provides an overview of the basic features of a trust, providing an overview of the complexities, risks and opportunities for trustees and beneficiaries.

This course consists of one online course and one online assessment.

Learning objectives

  • Identify the reasons why trusts are used as business and investment vehicles
  • Understand how trusts are currently taxed and when trustees or beneficiaries will be assessed
  • Recognise the issues that can arise when a trust applies the CGT Discount or the small business CGT concessions in respect of a corporate beneficiary, and how unpaid present entitlements owed to a corporate beneficiary can be structured to prevent a deemed dividend arising under Division 7A
  • Recognise when a family trust election needs to be made and the impact it will have on a trust
  • Identify when each specific CGT event applicable to trusts may apply
  • Identify the income tax and CGT advantages of using a testamentary trust
  • Determine when an interest deduction can be claimed by a trustee on funds borrowed to finance a payment to a beneficiary
  • Recognise when specialist advice will be needed to determine whether a resettlement has occurred

Audience

This course is for tax practitioners with responsibility for the preparation of income tax returns for individuals and businesses involving trusts.

365 Days

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