Potential changes to family trusts: May 2011

14 May 2011

Admin User

Joe Hockey, the Shadow Treasurer has declared that Trusts should be taxed in the same way as companies.

Under current law, Trusts do not pay tax in their own right, rather they distribute their income to beneficiaries in accordance with the trust deed. Beneficiaries may include children and other family members.

This ability to distribute income provides opportunities to minimise tax liabilities.

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