On Fri 13.12.2019, the Commissioner released Taxation Determination TD 2019/14 which addresses the question: Will a trust split arrangement of the type described in this Determination cause a new trust to be settled over some but not all assets of the original trust with the result that CGT event E1 in s 104-55(1) of the Income Tax Assessment Act 1997 (ITAA97)? The TD answers: ‘Yes’ for one example and ‘No’ for a second example. The differences are instructive.

See below for a summary of the draft Determination.

[Tax Month – December 2019]

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