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A Matter of Trusts: In-specie distributions and GST

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

One of the advantages of holding assets through a discretionary trust (provided the power is in the trust deed) is the ability to distribute assets to one or more beneficiaries of the discretionary trust in the form in which those assets are held by the trustee (a distribution in-specie), rather than conversion of the assets to cash prior to distribution. The flexibility of the method by which these distributions are made is generally not available through corporate structures where rights held by shareholders must be considered and the procedure for capital reductions in the Corporations Act 2001 must be followed.

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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