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Discretionary trusts: where are we now with splitting and cloning? paper


One of the hot topics in trusts in the last few years has been using splitting or cloning as a solution to dividing control of family discretionary trusts among the next generation. It is important to understand what is being done, how and when and why it works from both a practical and tax view and what are the pitfalls. This paper focusses on:

  • practical reasons for splitting or cloning
  • can you effectively ‘divide’ a trust’s assets under trust law?
  • tax outcomes for CGT assets, trading stock and plant and equipment
  • stamp duty issues
  • family trust election constraints
  • practical issues.

Author profile

Andrew Sinclair CTA
Andrew Sinclair, CTA is a partner in Cowell Clarke's Tax & Revenue practice group. As a tax and superannuation specialist with over 25 years experience, his qualifications are in law and as a Chartered Accountant. With a broad knowledge of corporate and business law, Andrew has specialist expertise in private client scenarios. This usually involves discretionary trusts, private companies and the diversity of views that family dynamics deliver. - Current at 22 January 2018
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This was presented at 40th South Australian State Convention: Let's Celebrate .

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Individual sessions

The legacy of Justice Graham Hill

Author(s):  The Hon. Justice Ian GZELL

Materials from this session:

Practical CGT problems in developing residential property

Author(s):  Gordon S COOPER

Materials from this session:

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