Please sign in here using your existing KPMG Account (KPMG Tax Now).
If you cannot remember your sign in details, or you need assistance, please contact us.
Tracing of testamentary trust distributions proposed
Income distributions to minors may need to be derived from deceased estate property before qualifying for concessional tax treatment.
The Federal Government has released an exposure draft, and associated explanatory materials, clarifying proposed changes to the taxation of testamentary trust income that is distributed to minors. If implemented, then from 1 July 2019, only the income derived from deceased estate property would qualify for normal individual tax rates, where distributed to minors. Other income distributed to minors from the testamentary trust would broadly be subject to the highest marginal tax rate as set out...
Sign in below or register now to read the full article
Authors: Blake Indian, Richard Wilkins
Published Date: 15 October 2019
KPMG Tax Now is a digital media website that brings together industry-leading tax news, insights and more from our global network of experts.
Stay informed of important policy and legislation changes, and what it means to you and your business.
Subscribe to our KPMG Tax Now platform to receive important updates delivered to your inbox, access to exclusive multi-media content, and invitations to interactive information sessions with KPMG experts.
If you are an existing user please click here