Trusts are often used to raise funds for various purposes, protect assets and provide financial security for dependents. Unfortunately, they are also separate persons for tax purposes, and have also been used for tax avoidance schemes.
ProBeta offers a dedicated session to discuss the tax workings of trusts, and the various anti-avoidance rules surrounding them.
This session will address matters including, but not limited to, the following:
• Brief overview of the incorporation of a trust and the responsibilities of trustees (this discussion will not be a full coverage of all the legal requirements for establishing or managing a trust)
• The income tax rules for trusts (resident and foreign trusts), including the attribution rules applicable to donors, and when a beneficiary would be taxed on amounts
• Anti-avoidance provisions for loans with trusts
• Administrative provisions for tax returns
Trustees or those in charge of administrating and managing trusts, taxpayers (including beneficiaries of trusts), tax practitioners, advisors, auditors and other professionals might benefit from this course.
