Modern day trust structures paper

Published on 17 Oct 08

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.

Author profile

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 Trust 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 25 September 2017

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