Taxation of trusts
  • Type Learning
  • Level Advanced
  • Time Hours
  • Cost Paid

Taxation of trusts

Issued by The Tax Institute

The earner has demonstrated an understanding of the main capital gains tax events that involve trust situations. They have applied the various tests to determine whether a trust can utilise losses of earlier income years for non-widely held trusts. They have identified the benefits and consequences of electing to be a family trust or an interposed entity, and have applied trust streaming rules to determine the component amounts to be included in the income of a beneficiary.

  • Type Learning
  • Level Advanced
  • Time Hours
  • Cost Paid

Skills

Earning Criteria

  • Identify the main CGT events that can happen in situations involving trusts and calculate capital gains and losses in different scenarios.
  • Apply the various tests to determine whether a trust can utilise losses of earlier income years for non-widely held trusts
  • Explain the benefits and consequences of electing to be a family trust or an interposed entity.
  • Advise on the impact of the trust streaming rules, including calculations of the component amounts to be included in the income of a beneficiary.
  • Earners complete 10 hours of online, self-paced, interactive learning, incorporating interactive examples, knowledge checks, case studies and a comprehensive activity.
  • Successful completion of an online, multiple-choice assessment comprising 20 multiple-choice questions within 60 minutes.

Standards

Advanced-level