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Cloning or splitting discretionary trusts paper

Publication date: 14 Mar 08

Source: NATIONAL EVENTS, TAXATION INSTITUTE OF AUSTRALIA

Abstract:

This paper tackles the difficult issues thrown up when using trust splitting or cloning techniques for succession planning or wealth preservation. Case studies demonstrate the following:

• technical problems with CGT events A1, E1 and E2
• how to bring into existence a new trust
• shifting value to the new trust
• creditors following assets to the new trust
• the incidence of stamp duty
• keeping an eye on Part IVA.

Author profile:

 

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