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A podcast discussing the Carter case and the issue of present entitlements.
This podcast in no way constitutes legal advice. It is general in nature and is the opinion of the author only. You should seek legal advice tailored to your individual circumstances before acting on anything related to this podcast.
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This podcast in no way constitutes legal advice. It is general in nature and is the opinion of the author only. You should seek legal advice tailored to your individual circumstances before acting on anything related to this podcast.
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ContactPodcast: The Carter Case - No Disclaimer of Present Entitlements
A podcast discussing the Carter case and the issue of present entitlements.
Key Insights
Following the decision in Carter, tax will follow a beneficiary who is 'presently entitled' as at 30 June.
This is the case even if the beneficiary is not aware of the entitlement/trust or disclaims at a later date (subject to the doctrine of 'sham' and section 100A).
Unusual outcomes can arise where there are big mismatches between 'trust law income' and 'tax law income'.
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