Taxation of Trusts, 3rd Edition

An essential guide for any trust practitioner or trustee, this book provides a comprehensive overview of how the tax laws apply to settlors, trustees and beneficiaries.

The third edition of Taxation of Trusts has been updated to incorporate recent developments in charity and trust case law, the application of FATCA to trusts, reforms to the disclosure requirements for foreign trusts, new tax changes affecting land-owning trusts, and other legislative reform that affect the tax obligations of trusts.  The text also includes practical examples and summaries of recent tax and charity cases.

Presented in a user-friendly format, the book seeks to answer questions that arise in practice. Each chapter includes relevant legislation for the subject matter covered.

Topics covered include:                  

• trustee income and distributions
• trustees’ liability for tax
• beneficiary income and distributions
• tax avoidance
• classification of trusts for tax purposes
• trust migration
• trading trusts
• foreign trusts
• qualifying and look-through companies
• life leases and debt forgiveness
• imputation and RWT credits
• associated persons
• variation and resettlement
• charitable trusts.