Published on 28 Jul 06
by NATIONAL EVENTS, TAXATION INSTITUTE OF AUSTRALIA
Trusts may be in?nitely varied (subject to the terms of the Deed). It is usually taxes which obstruct the effective and ef?cient restructure of commercial and family trust arrangements. The Commonwealth allows signi?cant leeway in restructuring trusts for ef?cient operation. The stamp duty regimes pose the main obstacles. This paper covers:
- tweaking trust relationships for succession planning purposes
- splitting, cloning and resettling
- get it wrong and it can be doubly costly
- the legislative basis for a dutiable resettlement.
Ken is a tax and commercial law partner in the Sydney office of SBN Lawyers. He has extensive experience in all aspects of tax (including State taxes) as well as business structuring, asset protection, succession planning and trust and estate law. Ken is a National Councillor of the Tax Institute and a member of the NSW Divisional Council and Education Committee. He is also a member of the Advisory Panel to the Board of Taxation and has recently been involved as a member of the Working Group on Managed Investment Trusts.
Current at 13 January 2009 Current at 25 March 2009
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