Posts in Tax
Warning: will your foreign person trust amendment prevent you from distributing to other trusts?

When preparing end of year trust distributions it is important to consider the impact of any foreign person exclusions in the trust deed. Failure to consider this and to get it right can result in the trust distribution being ineffective and the trust income being taxed to the trustee at 47%. But, the fix to the problem may be as simple as a deed amendment.

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