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International Law

: Australian Regulatory Compliance Review

Review of taxation of trust income

By David Jacobson

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The Assistant Treasurer has released a discussion paper for public consultation about two recommendations from the Board of Taxation that addresses two key areas of uncertainty for trusts:

?Better align the concept of ‘income of the trust estate’ with ‘net income of the trust estate’
?Enable the streaming of capital gains and franked distributions.

The changes will apply for the 2010-11 and later income years.

Full post as published by Australian Regulatory Compliance Review on March 06, 2011 (boomark / email).

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