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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
Danielis a Principal of Sladen Legal. He 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, recognised by The Tax Institute as “the leading resource for anyone advising on trusts, structuring and planning issues”. From 2016 to 2019, Daniel has been named in the list of Australia’s “Best Lawyers of the Year” in the practice of tax law in the list compiled by United States peer-review company Best Lawyers. Daniel has also been recognised in Doyles Guide as a recommended tax lawyer since 2016. Daniel is 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 September 2019
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