Published on 07 Apr 04
by NEW SOUTH WALES DIVISION, THE TAX INSTITUTE
This paper examines some of the multitude of difficulties that have to be managed when trusts are varied or re-organised, including:
- trust law aspects of variation
- consideration of fraud on the power
- concepts of property of the trust
- what is a resettlement?
- must a resettlement create an adverse capital gain result?
- recent cases
- the Commissioner's statements.
David Raphael CTA
David practised as a Solicitor for more than 30
years and since 1995 has been an active member of the NSW
Bar. While a Solicitor he specialised in revenue litigation and other
revenue-associated matters and was the instructing solicitor in
several high-profile payroll tax cases such as the Terry Sheilds case.
He appeared as Counsel in the Denham Constructions case. In
stamp duty he was Counsel in the most important land rich case of
Tsai Mei-Lan Lee. While a solicitor he was the speaker on Australian
revenue law at meetings of the UIA in Quebec, Switzerland
and France in various years as well as for the International Bar
Association in Singapore in 1987. Current at 20 February 2012
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