The Government is planning to update the trust income tax provisions in Div 6 of Pt III of the ITAA 1936 and re-write them into the ITAA 1997. In November 2011, the Assistant Treasurer released a consultation paper. Following the close of submissions on that paper on Friday, 10 February 2012, Treasury will conduct a series of consultation forums to listen to community views on the re-write.
These meetings will be open to interested members of the public. Anyone may attend, regardless of whether they have lodged a written submission. Treasury advises that, subject to demand, meetings will be conducted on the following dates:
- 20 February 2012 – Brisbane CBD (morning).
- 27 February 2012 – Sydney CBD (morning).
- 29 February 2012- Melbourne CBD (morning).
- 1 March 2012 – Adelaide CBD (afternoon).
- 2 March 2012 – Perth CBD (afternoon).
Further information and registration details can be obtained by emailing trust_rewrite@treasury.gov.au or visiting the Treasury website.
[LTN 22, 3/2]