22/07/2022
For the many business owners who operate their affairs through discretionary trusts, there have been further developments on the ATO’s planned crackdown on certain distributions.
To recap, the ATO in February updated its guidance around trust distributions made to adult children, corporate beneficiaries and entities that are carrying losses.
Depending on the structure of these arrangements, there is a potential that the ATO make take an unfavourable view of what were previously understood to be legitimate distribution arrangements.
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