There is little doubt that the tax treatment of trust losses is a topical issue at present and, in this article, the author provides a detailed discussion of the issue. The effect on the carryforward of trust losses of changes made after the acquisition of a loss trust is also considered. The paper further examines the loss trust anti-trafficking measures announced in the 1995/1996 Federal Budget. The author concludes that the uncertainty in the application of the existing tax law to the carryforward of trust losses, combined with the introduction of the new Budget measures, pose significant tax risks in acquiring a loss trust.
"A Loss of Trust in Loss Trusts ,"
Revenue Law Journal:
1, Article 1.
Available at: http://epublications.bond.edu.au/rlj/vol5/iss1/1