How to communicate the latest Trust Distribution ATO rulings to clients.

Regulation

How will your practice communicate ATO ruling changes for clients who distribute trust earnings to adult children?

By Change GPS • 04 March 2022 • 2 minute read

Accountants have worked tirelessly to keep their clients’ businesses moving forward during the COVID pandemic. The latest s100A rulings from the ATO have left accountants to cope with potentially angry clients over their retrospective changes to Trust taxation – all the way back to 2015. This, also coupled with the rulings’ labelling of accountants as ‘promoters of schemes’ by reducing tax through the legitimate use of Trusts in family dealings, has left accountants shocked.

We heard your voice, as over 5,500 accountants registered for our webinar last week. During the session, we covered not only understanding the rulings from the ATO - but how to start planning for how you are going to deliver this challenging news to impacted clients.

You can watch our latest webinar and download your free email to clients to help you:

explain the potential increase in tax to clients (including the exact Value-Plan-Price email you need to send them) so they don’t blame you
use NEW strategies to reduce your client’s tax and make family provisions
address the recent updates to ATO promoter penalties in your firm by de-risking your accounting practice

The new ATO ruling on Trust Distributions changes everything.

You’ll learn how to communicate the ATO’s rulings to your clients and educate them on the impact to their financial situation in 2022 and future years.

2022 Tax Season Launch February 28th (changegps.com.au)