End of financial year is nearly upon us – what do I need to know for 2020?
In this four part webinar series, partner Linda Tapiolas and special counsel Jodie Robinson use case studies to explore Family Trust Elections, income distributions, Division 7A and base rate entity rules.
Along with the webinar recording you will receive the presentations and any additional handouts.
Family Trust Elections
There are major implications when an entity who has made a Family Trust Election (FTE) and Interposed Entity Election (IEE) makes distributions outside of the family group.
- When is an FTE or IEE required?
- What are ‘distributions’?
- Who is part of the ‘family group?
- Who is liable to pay family trust distribution tax?
- When are distributions made outside of the family group?
- What should my trust deed say to help with these issues?
There are a number of issues to consider in drafting year-end trustee resolutions.
- Is the trust resolution drafted in accordance with the deed?
- Should the trustee re-characterise trust income?
- Does the resolution effectively stream dividends and capital gains?
- Considering significant individual and CGT concession stakeholder issues:
- when are they important?
- what distributions are required to ensure that there is a significant individual or CGT concession stakeholder?
Division 7A permeates many end-of-financial-year discussions.
- What Division 7A rules apply for 2020?
- What changes may come in that affect our planning?
- How should we act in 2020 to prepare for those changes?
Base rate entity rules and the timing of distributions
The base rate entity rules are a major influence in much end of financial year planning.
- Where are we at with the base rate entity rules?
- What is a base rate entity for 2020 and 2021?
- What are the different tax rates for 2020 and 2021?
- Why should a distribution be made in 2020, and when should it wait for 2021?