TAXING PRIVATE TRUSTS IN AUSTRALIA – A MOVING TARGET

The Australian revenue authorities have been very active recently issuing judgments, making pronouncements and intensifying enforcement activity, all directed to the way the tax system operates in relation to income made from, and gains arising on transactions with, assets that… Read more

Australian tax law bites trust law on franking credits

The High Court of Australia has restored sanity in a long running saga in which a trustee purported to separate franking credits from the underlying dividends in allocations to beneficiaries. The Court held (as the parties now accepted) that this… Read more

HSF Private wealth team boosted by three promotions

Herbert Smith Freehills' highly regarded private wealth team has been boosted by the promotion of Joanna Caen and Gareth Keillor to Partner and Of Counsel respectively.  HSF's private wealth team specialises in trusts, estates, charities, family company and mental capacity… Read more

UK authorities obtain first Unexplained Wealth Orders

In our recent blog post on the introduction in the UK of Unexplained Wealth Orders ("UWOs"), which can be found here, we explained how the new investigative tool could affect you and your business. In short, UK authorities may require… Read more