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A Matter of Trusts: Family trust elections - remain vigilant

Published on 01 Aug 05 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

A family trust election is an election made that a trust will become a 'family trust' for the purposes of the taxation legislation. Once made a family trust election is irrevocable (except for some fixed trusts). Therefore, whilst a trust that has made a family trust election exists the implications of making that election will need to be continually monitored.

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 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 Click here to expand/collapse more articles by Daniel SMEDLEY.
 
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