Australian Trusts Tax Handbook 2022-23 eBook

ISBN: 9780864696991
Publisher: Thomson Reuters
Publish Date: 30/11/2022

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Australian Trusts Tax Handbook 2022-23 eBook


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The Australian Trusts Tax Handbook 2022-23 is a practical guide to the rules relating to the taxation of trusts to assist accountants and tax practitioners when dealing with this common but complex topic.

The Handbook outlines the relevant trust law concepts – particularly the importance of the trust deed – that play a key role when determining the tax position of the trustee and beneficiaries.

The Australian Trusts Tax Handbook 2022-23 is streamlined to meet the needs of practitioners and advisers and brings together all the key trust tax provisions and concepts into the one publication with easy access to a number of trust deed clauses and plain English explanations, supported by numerous examples, tips, and warnings. There are also definitional tables and step-by-step guides to calculating the income and net income of a trust, streaming capital gains and franked distributions, making effective trust distributions and drafting distribution minutes.

What's new in The Australian Trusts Tax Handbook 2022-23

The commentary has been thoroughly updated for new developments in the taxation of trusts. In particular:

  • the High Court held that retrospective (post-30 June) disclaimers of trust income are ineffective for tax purposes – see FCT v Carter [2022] HCA 10;
  • the ATO released draft guidance signalling a new approach (from 1 July 2022) in relation to:
    • trust reimbursement agreements; and
    • unpaid present entitlements and sub-trust arrangements; and
  • commentary on recent case law and new ATO guidelines on the allocation of professional firm profits.

There is also new commentary on:


  • corporate collective investment vehicle (CCIV) sub-fund trusts; and
  • the ATO’s intention to withdraw TR 2010/3 and PS LA 2010/4 with effect from 1 July 2022 and replace them with a Determination containing the ATO’s revised views that a private company beneficiary provides financial accommodation to the trustee or a shareholder under certain circumstances.