The tax rules governing the restructuring of family groups are highly technical—often unnecessarily so. CGT rollovers frequently contain requirements and drafting anomalies that serve little apparent purpose and fail to address specific tax mischief. This is particularly evident for private groups that have consolidated for tax purposes, where the interaction between the CGT rules and consolidation often does not operate smoothly. 

The ATO’s strict technical approach can result in unexpected outcomes for taxpayers, particularly family group taxpayers. Of even greater concern is the ATO’s use of the tax avoidance regime (Part IVA) when advisers take steps to mitigate these unintended outcomes. 

This session is a valuable opportunity for PWN Members to raise questions and real-world scenarios in a confidential setting. 

 

This masterclass explores:

1. Tax: 

  • The state of play regarding the Commissioner’s guidance on back-to-back rollovers

  • The application of Part IVA to rollovers in light of recent cases, such as Merchant v Commissioner of Taxation (soon to be heard in the High Court), even where taxpayers comply with the technical requirements of the legislation

  • If time permits, a brief overview of other recent tax developments, including: 
    - Superannuation Division 296 tax
    - The significant High Court case Commissioner of Taxation v Bendel, concerning unpaid distributions from discretionary trusts

2. Estate Planning:  

  • The rise of family charters or rule books, and strategies for optimising the use of the family bank

  • Anticipating government and ATO interventions – Potential attacks on family wealth, including death duties or inheritance taxes by stealth, and possible removal of deceased estate concessions

  • Protecting assets from predators and creditors – Testamentary trusts remain a strong vehicle, provided control is properly structured

 

Speakers

Scott Whitla

Scott Whitla

Partner, Estate’s Team, McCullogh Robertson 

With extensive expertise in succession planning, estate administration, estate litigation, and equity claims, Scott is an accredited specialist in succession law and a qualified mediator. 

Trusted by private clients, family offices, and trustee companies, Scott collaborates with the McR Private team, accountants, and financial advisers to create tailored succession planning solutions that help preserve estates and the family legacy.

David Hughes

David Hughes

Partner, Tax Team, McCullough Robertson

David is an accredited tax law specialist, and a chartered tax adviser. He has over 25 years experience acting for taxpayers of all types including individuals, family groups, SMEs, and listed and unlisted public companies across all aspects of tax law. 

The ATO is closely scrutinising families of significant wealth, particularly in the context of family and business succession. David has successfully leveraged his experience and collaborative relationships within the ATO to facilitate complex and tax effective restructures, that achieve his clients’ objectives. 

 

Booking

Visit the Family Office Congress XVII Masterclass website to book your Masterclasses.

 

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