WealthPersonal FinanceTax reformPrint articleATO turns screws on bogus payments by family trustsDuncan HughesReporterDec 9, 2022 – 3.58pmSaveLog in or Subscribe to save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? LoginThe tax authorities have announced a crackdown on individuals using family trusts to make bogus distributions to beneficiaries – often adult children on lower marginal tax rates – and using the cash for themselves.The long-awaited Australian Taxation Office (ATO) guidance on s100A tax avoidance will affect a rapidly growing branch of personal finance management that currently includes about 928,000 family trusts managing assets worth nearly $2.2 trillion.Loading...Duncan Hughes was a reporter at The Australian Financial ReviewSaveLog in or Subscribe to save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? LoginLicense articleIntroducing your NewsfeedFollow the topics, people and companies that matter to you.Find out moreRead MoreTax reformTax deductionsInvestment taxAFR WeekendSmart InvestorTax minimisationLatest In Personal financeFetching latest articlesMost Viewed In WealthThe Australian Financial Review MagazineWhat lurks beneath the stand-off over Sydney’s $750m new fish marketPrimrose RiordanWhy these Australian wines are at risk of extinctionHow much to tip? And other restaurant conundrums to chew onBOSS Financial ReviewHow execs slay the horror ‘sandwich’ of work, kids and ageing parentsHannah TattersallHow these brothers turned a side hustle into $100mHow this CEO wrote a report while cooking noodlesLife & LeisureArchitects are turning to the past to design the buildings of the futureRobert BevanIs this going to revolutionise the Friday night takeaway?Level up with a gold-accented ceramic watch and boho Hermès wedgesRich ListMike Cannon-Brookes loses two executives from private office GrokPrimrose RiordanShuffle follows Stake into the gutterToorak Rich Listers caught up in mansion fire
