From www.knowledgeshop.com.au: The November 2024 Tax Round Up highlights updates on family trust elections (FTEs) and the ATO’s finalized guidance on section 99B, which affects non-resident trusts.

Important compliance details are provided for low-risk scenarios involving deceased estates and commercial agreements regarding trust property.

Additionally, the Senate passed 32 bills related to tax reform and superannuation, while the family trust distribution tax (FTDT) warning emphasizes careful adherence to election regulations to avoid significant liabilities.