Trust Losses and Family Trust Elections

While all practitioners are aware of the existence of trust losses, few understand them completely, and most take the course of using family trust elections for non-fixed trusts and thereby avoid most of the trust loss rules. This is, however, not always the best course of action for the client.

In this session you will:

• Identify situations that create trust losses
• Name the tests that must be satisfied with respect to trust losses
• List the five types of fixed trusts that apply for trust loss measures
• Explain the purpose of the same business test
• Outline when a family trust election must be made by the trustees
• List entities that are considered a part of a ‘family group’
• Describe the ‘family control’ test
• Explain when family trust distribution is payable
• State when a trustee can distribute franking credits.

A comprehensive set of course notes and accompanying PowerPoint slides will be provided.

Who Should Attend?
This session has been developed for an intermediate to advanced level audience, looking for an overview of the principles of Trust Losses and Family Trust Elections.