Published on 04 Aug 89
by WESTERN AUSTRALIAN DIVISION, THE TAX INSTITUTE
In the 60s and 70s many trusts were primarily established to avoid probate duty, and later in the 70s and 80s the impetus for their creation was to minimise income tax. Today there are still tax advantages to be gained from the use of the modern family discretionary trust. In addition, the discretionary trust was always historically and still remains a highly desirable means of holding family property.