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Why Family Trusts need tax planning in 2022?

All those with family trusts need to do some tax planning and, at a bare minimum, review the cash distributions and prepare a Resolution before 30 June 2022.

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The ATO’s Attack on Trusts and Trust Distributions

Late last month, the Australian Taxation Office (ATO) released a package of new guidance material that directly targets how trusts distribute income. Many family groups will pay higher taxes (now and potentially retrospectively) as a result of the..

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