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Cloning or splitting discretionary trusts paper

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.

Author profile:

Ken SCHURGOTT
Ken is a tax and commercial law partner in the Sydney office of SBN Lawyers. He has extensive experience in all aspects of tax (including State taxes) as well as business structuring, asset protection, succession planning and trust and estate law. Ken is a National Councillor of the Tax Institute and a member of the NSW Divisional Council and Education Committee. He is also a member of the Advisory Panel to the Board of Taxation and has recently been involved as a member of the Working Group on Managed Investment Trusts.
Current at 13 January 2009
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