ATO takes aim at family trusts with new guidance on Division 7A and Section 100A.
After 43 years since introduction, the ATO has released its comprehensive guidance on section 100A as well a revised view as to the application of Division 7A to unpaid present entitlements (UPEs). The draft guidance is expected to have significant impact on many family trust arrangements. Given much of the guidance applies retrospectively, it is imperative that taxpayers consider how the guidance is to apply to both historical and future distributions.
Watch this webinar to learn more about:
- The ATO view of section 100A and the ordinary commercial and family dealings exception
- Treatment of UPEs to corporate beneficiaries
- Application and transition dates
- Implications for year-end planning
- Review of existing structures and legacy arrangements