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Testamentary trusts: not just 'another' trust? paper

Published on 23 Nov 06 by NATIONAL EVENTS, TAXATION INSTITUTE OF AUSTRALIA

Planning for how assets will be passed down through successive generations can take the form of simply leaving an asset to someone, or can involve some 'ruling from the grave' and the inclusion of a testamentary trust in the succession planning process. There are many traps for the unwary in planning the terms of the trust and this paper explores:

  • what peculiarities are involved in this style of trust, for instance when does it start, whether you can vary the terms of the trust and when does it end?
  • what are the income tax advantages and potential planning issues?
  • what drafting issues do you need to be aware of?
  • what are the peculiar and particular income tax and CGT issues for the trustee?
  • what are the current issues with life interests?

Author profile:

Author Photo - Arlene MACDONALD
Arlene MACDONALD

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This was presented at 14th National Tax Intensive Retreat: Trusts Under the Microscope .

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

Individual sessions


Workshop 1: CGT small business concessions

Author(s):  Moira MERRICK

Materials from this session:




Workshop 2: Trust distributions, testamentary trusts and amending trust deeds

Author(s):  Andrew NOOLAN

Materials from this session:



Further details about this event:

 

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