Treasury discussion paper on taxation of trust income
4 March 2010
On Friday 4 March, Assistant Treasurer Bill Shorten announced the release of a discussion paper on improving the taxation of trust income, including the Government's commitment to ensuring that the flexibility to stream income to particular beneficiaries can continue.
Submissions are called for by close of business on Friday 18 March.
This discussion paper follows the Assistant Treasurer's earlier announcement on 16 December 2010 that the Government would conduct a public consultation process as the first step towards updating the trust income tax provisions in Division 6 of Part III of the Income Tax Assessment Act 1936 and rewriting them into the Income Tax Assessment Act 1997.