Note: This paper was delivered at both the Victorian and Tasmanian Conventions in 2008 (9-11 October and 17-18 October respectively).
This paper considers some of the fundamental concepts underlying the trust relationship and considers how they relate to the modern day trust structure. Issues addressed include:
is the concept of the substratum of a trust still relevant?
mere, trust, general, special, hybrid and dispositive powers - what are they and why is the distinction important?
consideration of the fiduciary obligation of trustees
beneficiaries of a discretionary trust as discretionary objects - significance?
an overview of income for the purposes of Division 6 and its application for a modern trust structure.
Daniel Smedley CTA
Daniel is a Principal of Sladen Legal. He is a Law Institute of Victoria Accredited Specialist in Tax Law and holds a Master of Taxation. Daniel is the principal author of Trusts Structures Guide published by The Tax Institute and a regular presenter at industry conferences and workshops. Daniel primarily advises businesses and high net worth individuals in relation to business and investment structuring, trusts, succession planning and taxation law. Current at 04 March 2016
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
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