Published on 14 Mar 08
by NATIONAL EVENTS, TAXATION INSTITUTE OF AUSTRALIA
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.
Ken Schurgott, CTA-Life is a Solicitor - Director of Schurgott & Co Lawyers specialising in taxation matters (including State Taxes, stamp duty, payroll tax and land tax) and with extensive experience in business structuring, business sales and acquisitions, asset protection, succession planning and trust and estate law. Ken is very experienced in tax dispute matters, negotiations for settlements, mediations and conciliations and litigation. He regularly appears before the AAT and NCAT and instructs counsel in matters before the Courts. Ken has been heavily involved in consultations with the ATO and Treasury on matters involving trusts including the inter-relation with Division 7A. He was National President of The Tax Institute in 2012.
- Current at
17 October 2017