This September, trust experts from around the country will come together for the online 2021 Trusts Intensive to deliver an outstanding technical program.

This series, taking place over two weeks on 8-15 September, will provide insights into many of the complex issues that can arise during the lifecycle of a trust.

Ahead of the series, we caught up with Kim Reynolds, CTA, Chair of the organising committee, to talk about what makes this event so important for tax advisers and her experiences in pulling the event together. 

Kim is a Director at Vincents and has been a member of The Tax Institute since 1998. To say Kim is an “active” member of The Tax Institute is an understatement. In addition to chairing the organising committee for this event, Kim is also on the Qld State Council and a member of the 2021 Noosa Tax Intensive Organising Committee.

Here’s what she shared about the 2021 Trusts Intensive.

Tell us about the event program - how is it structured, how were speakers chosen, what was the goal when putting the event together?

Trust Structures are used extensively in the SME space in Australia mainly due to the flexibility they provide with distributing income. However, the interaction between trust law and tax law creates some particular complications for taxpayers and their advisers.

The 2021 series has been developed with a view to exploring the difficulties that can be experienced when dealing with trusts throughout their life cycle, exploring the interaction of tax and non-tax related considerations, and also exploring some perennial issues when dealing with distributions, residency and matters dealing with state taxes.

The committee are grateful to all of the speakers and like all speakers in the Institute programs, they are esteemed experts in their subject matter who provide their time and expertise in a volunteer capacity.

How will tax practitioners benefit from attending this event? What challenges will it address?

Tax practitioners, particularly accountants, working with trusts in the SME sector will benefit from hearing from experienced advisers.

This series will highlight the issues to be considered when dealing with trusts to ensure that the goal of maximising flexibility of income distributions can be achieved and is not undone by a ‘technicality’.

Tell us about the experience of helping to organise this event?

Organising this event has been a great experience and provided an opportunity to step back from the detail of client matters but take on a more ‘helicopter’ view to reflect on the issues that can impact a trust throughout its life.

Which sessions are you looking forward to attending and why?

I am looking forward to Session 3 - Positioning trusts for succession/sale and Session 4 - Winding up a trust structure as there are a variety of trust law issues that need to be considered in their own right but then also overlay these with the tax considerations.

Finally, what made you choose the path of an accountant? What sparked your interest?

Since starting out as an accountant, I have always had an interest in the complexities of the law and how it practically applies to client circumstances. Becoming a tax specialist just “made sense”. I provide specialist tax advice to privately held family groups and high net wealth individuals, mainly in the SME space.

Catch a program of trusts experts at the 2021 Trusts Intensive this September. Find out more about the event. 

About Kim Reynolds, CTA

Kim Reynolds, CTA, is a Chartered Accountant, Chartered Tax Adviser and Director at Vincents. Kim has over 25 years’ experience working with SME’s, family groups and high net worth individuals helping them navigate tax issues impacting on their affairs. Kim’s expertise includes complex income tax and CGT issues including Division 7A and CGT Small Business Concessions, taxation of trusts, succession and estate planning, and transaction advice and support. Kim is a member of The Tax Institute’s Queensland State Council.

When not knee deep in tax, Kim enjoys rainy days with a good book or listening to podcasts – on an eclectic mix of topics including politics, science, history and business.