Taxation of Trusts

Subject LAWS70333 (2010)

Note: This is an archived Handbook entry from 2010.

Credit Points: 12.50
Level: 7 (Graduate/Postgraduate)
Dates & Locations:

This subject has the following teaching availabilities in 2010:

Semester 2, Parkville - Taught on campus.
Pre-teaching Period Start not applicable
Teaching Period not applicable
Assessment Period End not applicable
Last date to Self-Enrol not applicable
Census Date not applicable
Last date to Withdraw without fail not applicable


Timetable can be viewed here. For information about these dates, click here.
Time Commitment: Contact Hours: The total class time is between 24 and 26 hours.
Total Time Commitment: Visit the Melbourne Law Masters website for more information about this subject.
Prerequisites: Visit the Melbourne Law Masters website for more information about this subject.
Corequisites: Visit the Melbourne Law Masters website for more information about this subject.
Recommended Background Knowledge: Visit the Melbourne Law Masters website for more information about this subject.
Non Allowed Subjects: Visit the Melbourne Law Masters website for more information about this subject.
Core Participation Requirements: Visit the Melbourne Law Masters website for more information about this subject.

Contact

For the most up-to-date information about this subject, contact the Melbourne Law Masters Office by email at law-masters@unimelb.edu.au or phone 8344 6190 or alternatively visit the subject website: www.masters.law.unimelb.edu.au
Subject Overview:

This subject will examine in depth the Australian income tax rules applicable to trusts, including significant new policy developments. It will apply these rules to the range of applications of trusts including private trusts such as deceased estates and family discretionary trusts, public managed investment funds, real estate investment trusts, nominees, trading trusts and stapled structures used by large business.

Principal topics will include:

  • Definition and types of trust at law and for tax purposes, framework of trust tax rules
  • Trust distributions, beneficiaries and trustees, present entitlement, net income, flow through of tax attributes such as franking credits and capital gains
  • Trust losses
  • Anti-avoidance and integrity rules
  • Capital gains tax for trusts including formation, distributions, termination, unit trusts, deceased estates
  • Managed investment and real estate unit trusts, public trading trusts (Div 6C), stapled and other trust structures
  • Trust tax reform and new developments.
Objectives:

A student who has successfully completed this subject should have a detailed knowledge of trust taxation rules and a good understanding of how these tax rules apply to trusts in a range of different applications.

Taxation of private trusts for individuals and families, discretionary and unit trusts for businesses, public managed funds, real estate and trading trusts, nominee and stapled structures used by large business will be examined. Students will have a good foundation from which to develop further understanding of key planning and structuring uses of trusts and will be aware of topical issues and tax reforms applicable to trusts.
Assessment:

Assignment (30%)
Take-home examination (70%) (12-15 November)
Prescribed Texts: Visit the subject website for more information
Breadth Options:

This subject is not available as a breadth subject.
Fees Information: Subject EFTSL, Level, Discipline & Census Date
Generic Skills: Visit the Melbourne Law Masters website for more information about this subject.
Links to further information: http://www.masters.law.unimelb.edu.au/

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