The trust has served its purpose - Now let’s get the money out paper

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Non Member Price: $75.00

Publication date: 28 Aug 09



During their lifetime trusts are exceptionally flexible structures with distinct tax and wealth protection advantages. As they reach the end of their useful life, extracting the value they harbour can be tricky. This paper considers some of the practical difficulties likely to be encountered along the way and on vesting.

Covered are effective distributions:

  • unit trusts: What constitutes a non-assessable distribution? Timing advantages under an E4;
  • planning ahead to fully utilise the small business CGT concessions;
  • do hybrid trusts present particular winding up problems?;
  • the trustee calls it "income" but the ATO calls it "capital". Does name-calling make a difference?;
  • capital distributions and the legitimacy of following the Practice Statement LA 2005/1; and
  • the impact of the Board of Taxation's Review of MITs.

Author profile:

Author Photo - Kenneth Schurgott CTA-Life
Kenneth Schurgott CTA-Life
Ken is a Tax and Commercial Law partner in the Sydney office of Schurgott Noolan Ardagna Lawyers. He has extensive experience in all aspects of tax (including state taxes and litigation) as well as business structuring, asset protection, succession planning and trust and estate law. Until recently he has been a long running member of the Advisory Panel to the Board of Taxation and has been heavily engaged with Treasury and the ATO in consultation on the reform of the taxation of trusts. Ken is a past President of the Tax Institute (2012).
Current at 23 April 2014
Click here to expand/collapse more articles by Ken SCHURGOTT.


This was presented at 17th National Tax Intensive Retreat: Extracting Value.

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Recent developments relating to discretionary trusts - getting money out of trusts against the wishes of the trustee & appointor
Author(s):  Lisa HESPE

Getting value out of companies - Part 1
Author(s):  Paul HOCKRIDGE

Getting value out of companies – Part 2
Author(s):  David MARSCHKE

Voluntary liquidation – Getting the money & assets out of a company
Author(s):  Michael BUTLER

Offshore wealth - Accessing money overseas
Author(s):  Chris WOOKEY

The trust has served its purpose - Now let’s get the money out
Author(s):  Ken SCHURGOTT

The trust has served its purpose: Now what can we do with it?
Author(s):  Grahame YOUNG

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