Discretionary trusts and corporate beneficiaries
A recently issued Tax Determination affecting Discretionary Trusts and corporate beneficiaries may have implications for how family groups distribute income.
High Court decision has impacts for trust beneficiaries
The High Court has rejected a taxpayer’s attempt to disclaim an interest in trust income that arose as a result of a default beneficiary clause being triggered.
Free succession guide for family businesses
The Australian Small Business and Family Enterprise Ombudsman, in conjunction with Family Business Australia, has released a new online guide to succession planning — the “Introductory Guide to Family Business Succession Planning” — which provides a step-by-step guide to passing the family business on to the next generation.