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18th National Tax Intensive Retreat

Published on 19 Aug 2010 | Took place at Sheraton Noosa Resort & Spa, Noosa, National

‘Passing the Baton’ was this year’s theme. It is about succession planning, and preserving and passing the family wealth to the next generation. This is a topic of growing importance as the value built up in entities by, in particular, the baby boomers, is to be transferred to the next generation. The traps and pitfalls are many and our team of expert and experienced presenters identifed those obstacles and suggested the ways and means around them.

The range of succession strategies considered was impressive – including strategies for maintaining control over assets in trusts post-Kennon v Spry and Richstar Enterprises, the role of superannuation and life insurance, extending the life of trusts, the risk of bankruptcy and family breakdown and the impact of the general anti-avoidance provision on succession planning.

Get a 20% discount when you buy all the items from this event.

Individual sessions

Challenging a trustee's decision to pay a superannuation death benefit

Author(s):  Bernie O'SULLIVAN This presentation covers challenging a trustee's decision to pay a superannuation death benefit.

Materials from this session:

Discretionary trusts: Control v ownerhip

Author(s):  Jeffrey CHANG This paper covers discretionary trusts: control v ownership.

Materials from this session:

Trusting into the future

Author(s):  Tony RIORDAN This paper covers:

  • using multiple appointors and other inter-generational control mechanisms
  • dealing with UPEs and 'at call' loans
  • exercising a power of advancement to resolve conflicts
  • other considerations
  • family trust elections
  • trust splitting
  • changes to deeds and their effects on losses and pre-CGT status of trust assets.
This paper was also delivered at Trusts & Estates Club - Wills and Family Discretionary Trusts – A Nightmare Scenario for Some Clients? on 15 September 2010.
Materials from this session:

Passing control of a business on insurable exit events - Ensuring fair outcomes

Author(s):  Matthew BURGESS This paper covers:

  • an overview of buy-sell agreements
  • self insurance - the preferred model?
  • superannuation (including SMSF) policy ownership
  • common 'cross-insurance' arrangements between shareholders
  • insurance in a special purpose trust
  • CGT issues on policy ownership and following receipts of the proceeds.
Materials from this session:

The role of super in estate planning and issues upon death

Author(s):  Paul BANISTER,  Linda FARMER This paper covers:

  • obstacles to use of SMSF for effective estate planning
  • payment of death benefits
  • allocation of contributions
  • use of reserves.
Materials from this session:

Protecting the family assets (trusts and divorce)

Author(s):  Arlene MACDONALD This paper covers:

  • why discretionary trusts can provide asset protection in bankruptcy
  • the current status of family court access to trust assets
  • what can be done to protect trust assets from the family court?
  • summary to date
  • tax impact of trustee resolutions set aside by the family court
  • availability of CGT rollovers and main residence exemption.
Materials from this session:

Trusts - Extending the vesting date

Author(s):  Michael BUTLER This paper covers:

  • what is the rationale for the rule?
  • current Australian rap position and relevance for trusts in 2010
  • long-term risks for 80 year trusts: CGT events E5
  • South Australian position: rule against perpetuities has been abolished
  • domiciling a trust in South Australia
  • changing the domicile of existing trust.
Materials from this session: