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Establishing new trusts as part of succession planning paper

Published on 25 Aug 05 by NATIONAL EVENTS, TAXATION INSTITUTE OF AUSTRALIA

This paper covers the following topics:

  • cloning trusts:
    • what is it, how does it work, what are the taxation implications and when would you do it?
    • family trust election issues
    • Division 7A issues
  • testamentary trusts:
    • control from the grave - letters of wishes vs deeds of family arrangement
    • family trust election issues
    • superannuation proceeds trusts - protection v death benefit ETPs
    • ownership of main residence and taxation implications of occupation rights
  • child maintenance trusts
  • trust to trust distributions (income and/or capital) and perpetuity issues
  • gifts to and secured loans from trusts to secure equity in property for the next generation.

This paper was also presented at the Preserving and Passing on the Family Wealth seminar held in Melbourne on 8 November 2005 and on 1 December 2005 at the repeat 13th National Tax Intensive Retreat in Noosa.

Author profile

Daniel Smedley CTA
Daniel Smedley, CTA enjoys solving complex taxation and trust law issues for private enterprise clients. He is also a trusted confidant in planning the succession of his client’s personal and business affairs. Daniel is a Chartered Tax Advisor with The Tax Institute, accredited as a specialist in Taxation Law with the Law Institute of Victoria, and the principal author of the Trust Structures Guide, recognised by The Tax Institute as "the leading resource for anyone advising on trusts, structuring and planning issues". In both 2016 and 2017, Daniel was named one of Australia's “Best Lawyers of the Year” in the practice of tax law. The list is compiled by Best Lawyers and published in the Australian Financial Review. Daniel has also been recognised in Doyles Guide as a recommended tax lawyer in 2016 and 2017. Daniel is a regular presenter at state and national industry conventions, conferences and workshops. - Current at 21 September 2018
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This was presented at 13th National Tax Intensive Retreat: Preserving Wealth for Future Generations .

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Successful succession for success

Author(s):  Peter BOBBIN

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