Following the enactment of the Trusts Act 2019, advisers have been reviewing their clients’ trust structures to ensure they are still “fit for purpose”. This review often results in trusts being varied or resettled. This webinar examines the income tax and GST implications arising from trust resettlements.
Income tax issues include knowing when a “taxable event” arises for income tax purposes and identifying the income tax implications arising from the transfer of different types of assets. GST issues include determining when a resettlement can be zero-rated for GST purposes and whether is it possible to claim a second-hand goods credit.
This highly practical webinar includes a case study to illustrate the practical application of these and other tax issues, and also helpful tips on how to structure resettlements to maximise tax effectiveness and avoid tax pitfalls.
Accountants of all levels, tax lawyers, trust lawyers and others who act as trustee of clients’ trusts.
Susan Ballantyne, Senior Associate, Tomlinson Law
Katherine Ewer, Principal, Katherine Ewer Tax & Trust Consultant
1.25 CPD Hours