Understanding Trust Taxes 2020
Presenters : Carmen Westermeyer
Overview
The taxation of trusts is an area that is often poorly understood. For many years, this did not negatively impact taxpayers, as taxpayers had a lot of freedom to structure trusts in such a way to obtain a tax advantage through effective estate planning. This is certainly no longer the case. The aim of this webinar is to look at the fundamental principles of trust taxation and how these impact the donors, beneficiaries and any other impacted parties. We will explore the tax consequences that could unexpectedly arise for donors and what donors should consider when donating to a trust. We will also discuss the risk areas and how these risks should be mitigated in order to protect the relevant parties involved, especially when financing is provided to trusts
Course Content:
This seminar will cover the following areas
- The principles of trust taxation
- Income
- Expenses
- Distributions
- Anti-avoidance and trusts
- Attribution rules related to trusts (income and capital rules)
- The impact of section 7C
- Tax consequences for beneficiaries
- Tax consequences for donors
- Tax consequences of offshore trusts