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Recorded Webinars

Recorded Webinar: The Taxing Issues When a Trust Comes to an End

A trust can end its useful life for a variety of reasons. It may have reached its vesting date or the trustees, in accordance with the deed requirements, may use their power to wind up the trust. This session explores the tax issues to consider when a trust vests, including: Th
PRESENTED BY Andrea Carrick Director, SMSF Specialist Advisor - AG Tax Lawyers , Melbourne

Date/Time

About the Webinar

A trust can end its useful life for a variety of reasons. It may have reached its vesting date or the trustees, in accordance with the deed requirements, may use their power to wind up the trust. This session explores the tax issues to consider when a trust vests, including:

  • The tax consequences if a trust holds CGT assets on the vesting date, for:
    • a discretionary trust
    • a unit trust
  • Is a new trust created when the original trust holds assets when it vests?
  • How the distinction between the “rule against perpetuities” and a trust’s “vesting date” may be catching trustees unaware (Re Perenna Nominees Pty Ltd 66 VR 246)
  • How is a trust’s income taxed if derived after the trust’s vesting date?
  • Action to take:
    • if a vesting date is looming, however the trustees wish for the trust to continue (Cisera v Cisera [2023] NSWSC 1507; Thomas Hare Investments Ltd v Hare (2012) 34 VR 656)
    • if a trustee has overlooked a vesting date which has passed
  • Is the decision for a trust to choose one of the CGT restructures or rollovers reliant on the trust deed to allow the original trust to vest?
  • Practical examples

Presented By

Andrea Carrick
Director, SMSF Specialist Advisor, AG Tax Lawyers Melbourne, Vic

Andrea has over 18 years of experience advising SMEs and high net worth individuals in all areas of taxation including income tax, CGT, GST and state taxation matters. She advises both corporate and private family businesses across a wide range of industries, focusing on complex business restructuring, commercial transactions and estate and succession planning. Andrea also has a wealth of experience liaising and negotiating with the ATO and Revenue Offices on behalf of clients in audits, investigations, objections and private ruling applications.

Andrea has a keen focus on superannuation, particularly in respect of SMSFs. She has extensive experience advising SMSF trustees and their advisers in regulatory and compliance matters and maximising opportunities for members with the intersection of the Small Business CGT Concessions and Superannuation. Andrea recognises the value of practical advice and is passionate about making these complex areas of tax and superannuation user friendly and accessible.

Andrea is a regular presenter for the TEN The Education Network, Legalwise Seminars and CPA tax discussion groups.

Who Should Attend?

This webinar is suitable for lawyers and accountants advising in taxation matters – Australia wide. This webinar is for practitioners with some knowledge in this area and looking to improve their knowledge.

CPD Information

Accountants can claim up to 1 CPD hour. Lawyers can claim up to 1 CPD unit/point – substantive law. This webinar has been designed to run for 1 hour, however, webinar lengths can vary depending on the level of questions and discussion.

WA lawyers – Please note that TEN is unable to verify your completion of recorded webinars to the Legal Practice Board of WA. TEN is an accredited provider.

While TEN takes all reasonable care to include accurate and up-to-date information regarding CPD category classifications and compliance obligations, information regarding CPD point allocation are provided as a guide only. Allocation of CPD points is subject to the CPD requirements of your jurisdiction, personal circumstances and professional requirements. You are solely responsible for determining whether a particular product is appropriate for your CPD requirements.

Enquiries/Assistance

If you need assistance or have an enquiry, please do not hesitate to contact our Webinar Coordinator, Lisa Tran on (03) 8601 7709 or email: [email protected]

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