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Establishing new trusts as part of succession planning paper

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DisclaimerThis material is copyright. Apart from any fair dealing for the purposes of private study, research, criticism or review, as permitted under the Copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.
Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

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 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 published by The Tax Institute. Since 2016, Daniel has appeared in the list of 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 since 2016. Daniel is a regular presenter at state and national industry conventions, conferences and workshops. - Current at 22 October 2019
Click here to expand/collapse more articles by Daniel SMEDLEY.

 

This was presented at 13th National Tax Intensive Retreat: Preserving Wealth for Future Generations .

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

Individual sessions

Passing Control of Existing Trusts

Author(s):  Rob JEREMIAH

Materials from this session:

Establishing new trusts as part of succession planning

Author(s):  Daniel SMEDLEY

Materials from this session:

Session 1 and 2 workshops

Author(s): 

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Successful succession for success

Author(s):  Peter BOBBIN

Materials from this session:

Keeping it in the company

Author(s):  Peter J MCKNOULTY

Materials from this session:

Session 3 and 4 workshops

Author(s): 

Materials from this session:

Wealth protection issues for clients with risk profiles: a family law perspective

Author(s):  Martin BARTFELD

Materials from this session:

Wealth protection issues for clients with risk profiles

Author(s):  Gary BIGMORE

Materials from this session:

International aspects of succession planning for high wealth individuals

Author(s):  CJ CHAN,  Denise HONEY

Materials from this session:

Effective strategies for using superannuation in succession planning

Author(s):  Paul BANISTER

Materials from this session:

Session 7 workshop

Author(s): 

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