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Amending trust deeds paper

Published on 24 Nov 06 by NATIONAL EVENTS, TAXATION INSTITUTE OF AUSTRALIA

This paper covers:

  • power to amend
    • express and statutory powers of amendment
    • inherent powers of the Court
  • why amend?
    • management powers - investment, transactions, income recognition and streaming, etc.
    • beneficiaries - (identity, entitlements, exclusions) trustees, appointors and guardians appointment and removal, succession, powers
    • splitting and cloning - external and internal trust splitting post CPT Custodian
  • status of the “Statement of Principles” - and an analysis of what constitutes a resettlement for CGT Event E1 purposes
  • CGT and stamp duty consequences
  • alternatives to amendment
  • practical illustrations.

Author profile:

Grahame Young
Grahame practises as commercial counsel at Francis Burt Chambers in Perth. Prior to commencing practice as a barrister in 2001 he had broad experience as a solicitor and company director. Grahame’s principal areas of practice include transactional taxes; equity, trusts and succession; corporate law; and property law. He has a particular interest in structuring and restructuring corporate and family groups. He has spoken and written extensively on a wide range of legal and taxation topics for The Tax Institute and other professional bodies. He is editor of Duties Legislation Western Australia. Grahame has served as State Chair and National Councillor of The Tax Institute and received its Meritorious Service Award. Current at 04 July 2014 Click here to expand/collapse more articles by Grahame YOUNG.
 

This was presented at 14th National Tax Intensive Retreat: Trusts Under the Microscope.

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

Individual sessions


Workshop 1: CGT small business concessions

Author(s):  Moira MERRICK

Materials from this session:




Workshop 2: Trust distributions, testamentary trusts and amending trust deeds

Author(s):  Andrew NOOLAN

Materials from this session:



Further details about this event:

 

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