u/Sure_Shift_8762

ABC posting misinformation about trust uses?

ABC posting misinformation about trust uses?

I get it tax is complicated, but in this article the author poses an example of a 'dental practice owner' who splits income in a discretionary trust. Now in this example surely the 'dental practice owner' is in fact a dentist, and would run afoul of PSI rules if he did this. The other dentists in the practise would also have PSI income. The ATO is all over this already. Am I missing something here?

Edit: for those who think you can split a whole lot of trust income from professional services business it is worth reading the latest ATO guidelines on this stuff. Very hard to split much without getting way out of the safe green zone and the ATO clearly has been on the warpath about this.

u/Sure_Shift_8762 — 4 days ago