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A Matter of Trusts: In-specie distributions and GST


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 enjoys solving complex taxation and trust law issues for private enterprise clients. He is also a trusted confidant in planning the succession of his client’s personal and business affairs. Daniel is a Chartered Tax Advisor with The Tax Institute, accredited as a specialist in Taxation Law with the Law Institute of Victoria, and the principal author of the Trust Structures Guide published by The Tax Institute. Since 2016, Daniel has appeared in the list of one of Australia's “Best Lawyers of the Year” in the practice of tax law. The list is compiled by Best Lawyers and published in the Australian Financial Review. Daniel has also been recognised in Doyles Guide as a recommended tax lawyer since 2016. Daniel is a regular presenter at state and national industry conventions, conferences and workshops. - Current at 12 August 2021
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