Family Trust Control Changes

Course ID ID16009_WEP

  • Online
  • 2
  • Intermediate
  • 2 CPD POINTS

The ATO’s reluctant acceptance that the circumstances that lead to a resettlement of a family or other trust are relatively restricted has meant that many changes to the terms of a family trust that may have attracted the ire of the ATO between 1999 and 2012 are now unlikely to do so. This means that, from an estate planning (and family law) viewpoint, careful dealing with the future control of a trust is unlikely to have the ATO concluding that it has triggered a CGT event. It also means that issues such as sharing control between siblings, having family trusts effectively operating as life interests and scheduling forward distributions of trust capital can also be addressed.

Prior to purchase please see the information below for system requirements.

College of Law Alumni and Law Society Members receive a 10% discount on the price.

Price

Full Price $240.00

Alumni/Member Price $216.00

Dates

Start date:

01 April 2016

End date:

30 June 2017

About This Course

Outline

Family Trust Control Changes

  • Administrative changes v resettlement
  • Past ATO view – 1999 to 2012
  • ATO Taxation Determination TD 2012/21
  • Outright v discretionary trust ownership
  • 1st Generation control changes
  • Implications of family trust election
  • Dispute resolution between domestic partners
  • Changing default beneficiaries
  • Estate planning implications
  • 2nd generation family trusts
  • Dispute resolution between siblings
  • Change of directors and appointors
  • Adding or removing beneficiaries
  • Changing trust income definitions
  • Forward income and capital resolutions
  • Extending existing vesting date

 

Designed for

This seminar complies with the mandatory requirements of Substantive Law and Professional Skills.

 

Presenter

Nathan Yii

Nathan provides legal advice and services to accountants, financial advisors, legal practitioners and their respective clients in the areas of Asset and Wealth Management.  A key feature of Nathan's practice is to ensure that his clients are provided with a clear understanding of how they may best utilise the options available to them.  Nathan's particular focus is to ensure that the complex laws that govern these areas are distilled down to a form that clients can readily understand and apply to their advantage. 

Nathan's experience extends to advising on acquisitions, tax-effective structuring, restructuring and succession of the SME businesses and investments of high net worth individuals.  In providing legal advice, Nathan has particular regard to the taxation implications such as CGT, income tax, state duty and GST, as well as issues such as family law risk, future creditor risk and risk of family dispute.  As part of his practice, Nathan advises on SMSF compliance and transactions including limited recourse borrowing arrangements and strategic planning.  Nathan also implements estate planning and business succession strategies for his clients. 

Via Estate Planning EQUATION, Nathan is involved in the teaching of the superannuation, trusts and estate planning subjects for professional associations.  Nathan is also a regular presenter for practitioner discussion groups and a writer for professional journals in his areas of interest and expertise.

Nathan has a Bachelor of Commerce (Accounting) and a Bachelor of Laws (Hons) from the University of Melbourne.  He is currently completing his Master of Laws at the University of Melbourne and has taken a focus on taxation and superannuation law in the Melbourne Law Masters programme. 

Professional Memberships:

  • Law Institute of Victoria (LIV)
  • Self-managed Superannuation Funds Professional's Association of Australia (SPAA)
  • Tax Institute of Australia (TIA)

 

Delivery

Please check the technical requirements for accessing this online  seminar contained here. 

Once registered we will send  you the access information you will need to log on to our Learning Portal from where you will be able to view the seminar.