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Discretionary trust interests: the Westpoint litigation paper

Published on 13 Sep 06 by VICTORIAN DIVISION, THE TAX INSTITUTE

This paper addresses the implications of the Westpoint litigation for trusts and what the future holds in relation to the following:

  • can a discretionary beneficiary have an ‘interest’ in a family trust?
  • how can family trust assets be exposed to claims against beneficiaries?
  • what is likely to happen with beneficiaries, appointors, guardians and trustees in future?

Author profiles

Renuka Somers
Renuka holds a Master of Commerce (Accounting). Renuka has written articles for Taxation in Australia on taxation issues associated with discretionary trusts and testamentary trusts and has also presented on the taxation of trusts. She is also a member of the Law Institute of Victoria's Tax Discussion Group. Renuka's principal areas of practice are: federal taxation - income tax, capital gains tax, Div 7A, consolidation and restructures; state taxation; business structuring; partnerships and service trusts; estate planning; and asset protection. Renuka applies her advanced knowledge of taxation law to advise clients on complex state and federal taxation issues associated with restructures and domestic and cross-border transactions for companies, trusts and consolidated groups. She also advises on asset protection and estate planning issues, with a focus on the taxation implications. Renuka joined Sladen Legal in 2006, having previously worked in the tax consulting divisions of two large accounting firms and in-house at a large legal firm. In 2010 and 2011, Renuka was also an executive director of the Eating Disorders Foundation of Victoria Inc, holding voluntary positions which involved corporate governance and strategic planning. - Current at 01 June 2016
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Ronald Jorgensen CTA
Ron principally consults on Commonwealth and State tax laws, tax dispute resolution and compliance enforcement. Ron specialises in trusts and trust disputes, succession and asset protection, business and investment structuring and tax sensitive commercial and property transactions. Ron is an Accredited Specialist Tax Law and member of the Tax Law Advisory Committee with the Law Institute of Victoria. He is a member of the Law Institute of Victoria and The Tax Institute. Ron is a member of the Tax Technical Committee (Vic), a member and former chair of the States Taxes Committee (Vic) and former representative of the Victorian State Taxes Consultative Council for The Tax Institute. Ron is a member of the Property Council of Australia Tax Committee (Victorian Division). Ron was recognised by Doyle’s Guide as a Recommended Leading Tax Lawyer for 2015, 2016, 2017 and 2018. - Current at 07 August 2019
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This was presented at Trust Practices Under Threat! .

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