Published on 25 Sep 08
by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE
Note: This paper was also presented at the Darwin Seminar on 28 November 2008.
Alone among Australian jurisdictions, South Australia provides trusts with perpetual succession. This paper examines the long-term CGT risks of "lives in being" and 80-year trusts (the E events) and looks at the possibility of establishing estate planning trusts in South Australia to avoid the resulting problems. Issues covered include:
what steps are necessary to make a trust domiciled in South Australia?
does it matter that the trust's property and/or its control is elsewhere?
how do you change the domicile of an existing trust?
can you extend or eliminate the perpetuity period of an existing trust without CGT and State stamp duty problems?
Michael Butler FTIA is a Partner at Finlaysons' Tax & Revenue Group. Michael advises both domestic
and foreign clients on federal, international and state tax matters, and has a special interest in property tax
issues. Michael is the author of the book "Australian Federal Company Taxation" and a regular contributor to Taxation
Institute of Australia events. Current at 23 March 2009Current at 15 April 2009
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
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