‘Read the Deed’ – Effective Trustee Resolutions!

This essential refresher for advisers of trust clients considers key deed provisions, practical tips, ATO’s focus, & case studies.

The ATO has its sights set on trusts – will your clients’ trustee resolutions stand up to scrutiny? 

This session provides a foundational overview and aims to enhance the practical ability of accountants & tax advisers to assist their trustee clients in preparing valid and effective resolutions at EOFY.

• What does ‘Read the Deed’ entail in practice?

• Setting the scene with a brief overview of trusts and outlining the anatomy of a discretionary trust deed.
• Exploring the key terms & salient provisions to observe.

• The vitals of Trustee Resolutions:

• Highlighting the critical elements and considerations.
• Practical tips for advisers & what to avoid.
• The ATO’s focus areas at tax time.
• Diagnosing potential issues in practice for new & existing clients.
• Safeguarding your firm: Setting policy triggers to obtain advice for technical trust issues.

• Case studies & examples.

Please note that this session focuses on the deed review process at EOFY and the essentials of trustee resolutions. Time constraints prevent us from covering further topics such as tax planning/distribution strategies.

Learning Outcomes:

Attendees will gain an improved understanding of:

• The key components and important terms of a discretionary trust deed.
• Methods to verify the completeness of your client’s trust deed.
• Techniques for reviewing your client’s trust deed to identify relevant clauses (or lack thereof) ahead of tax time. 
• Best practice – internal checks are crucial for effective EOFY trust resolutions.
• Ways to proactively identify problems for incoming clients.
• How to prevent the potential issues in trustee resolutions for existing clients.
• The latest ATO areas of concern relating to discretionary trusts at tax time.
• Techniques to enhance collaboration with fellow advisors.
• Setting policy triggers to obtain advice for technical trust issues to safeguard your firm.

Suited to:

Accountants, tax agent / BAS agent, tax practitioners, lawyers and other practitioners advising clients with discretionary trusts.

This On Demand Includes: 

• Recording of the Live Webinar, which can be viewed multiple times
• PowerPoint Presentation
• Verbatim Transcript, with Searchability
• Supporting Documentation
• CPD Quiz
• CPD Certificate