Miscellaneous 2017

Judged by your deeds

Source: Taxation In Australia Journal Article

Published Date: 1 Sep 2017


The central document which constitutes a trust is the trust deed. This article considers the trust deed, the essential machinery that needs to be considered by advisers in addressing commercial and tax law issues associated with trust structures. The article reviews some challenging but relatively typical issues that the author has addressed in advising on trust structures, including recent developments. The article begins with a discussion of trust law issues, including the power of amendment, trustee powers, trustee indemnity, and the rule against perpetuities. The article then considers essential and desirable provisions in the discretionary trust, including provisions for income and capital distributions and distributions of unrealised gains. Typical provisions in a unit trust deed are then considered. Governance issues for discretionary trusts are discussed. Capital distributions and unit redemptions from unit trusts are considered. The article concludes with discussion of some significant distribution issues.

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Miscellaneous 2017

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