The Six Foundations of the Taxation of Trusts

The issues relating to the taxation of trusts are arguably the most critical aspect of the trust structure. The combination of ongoing, often fundamental, changes to taxation legislation, and the approach taken by the Tax Office and courts, given the vast amounts of wealth accumulated within trusts, have meant that all advisers must have a deep understanding of the rules relating to the taxation of trusts. The range of fundamental issues that need to be considered in relation to the taxation of trusts is both vast and evolving.

Author Biography

Matthew Burgess is one of the founders of specialist firm View Legal. Having the opportunity to help clients achieve their goals is what he is most passionate about. As Matthew always works in conjunction with trusted advisers (whether it be accountants, financial advisers or other lawyers) and their clients, finding ways to fundamentally improve the value received by those advisers, and in turn their clients, has led him to develop numerous game changing models. Examples include providing guaranteed upfront fixed pricing, founding what is widely regarded as Australia’s first virtual law firm, and more recently, developing a platform that gives advisers access to market leading advice and support for less than $1 a week. Matthew’s specialisation in tax, structuring, asset protection, estate and succession planning has seen him recognised by most leading industry associations including the Tax Institute, the Weekly Tax Bulletin and in the 2014 ‘Best Lawyers’ list for trusts and estates and either personally, or as part of View, since 2015 in ‘Doyles’ for taxation and since 2017 for wills, estates and succession planning. Work is one aspect of his life Matthew loves, so there is no need to be constantly searching for ‘balance’. His other great loves are: 1. Family – they are profiled in various ways through the series of children’s books he has written under the pseudonym ‘Lily Burgess’ – see www.wordsfromdaddysmouth.com.au and various TV commercials; 2. Learning – going cold Turkey on television and most forms of media in late 2005 has radically increased Matthew’s ability to study the great authors and inspired him to publish a series of books that explore the concept of ‘true success’ – see www.thedreamenabler.com.au 3. Health – aside from being a foodie and swimming at least 5kms a week, Matthew installed a stand up workstation in 2007 and among a few other lifestyle choices, it changed his life.