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Avoiding the vesting day: Trusts domiciled in South Australia presentation

Published on 25 Sep 08 by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE

Note: This presentation was also presented at the Darwin Seminar on 28 November 2008.  

Alone among Australian jurisdictions, South Australia provides trusts with perpetual succession. This presentation examines the long-term CGT risks of "lives in being" and 80-year trusts (the E events) and looks at the possibility of establishing estate planning trusts in South Australia to avoid the resulting problems. Issues covered include:

  • what steps are necessary to make a trust domiciled in South Australia?
  • does it matter that the trust's property and/or its control is elsewhere?
  • how do you change the domicile of an existing trust?
  • can you extend or eliminate the perpetuity period of an existing trust without CGT and State stamp duty problems?

Author profile:

Michael Butler CTA
Michael is the Partner in charge of the Finlaysons Tax & Revenue Group. Michael advises domestic and foreign clients on federal, international and state tax matters, and has a special interest in mining and property taxation, corporate restructurings, international tax issues, and estate and succession planning. Michael is the Visiting Lecturer in Tax at the University of Adelaide Law School, and is a regular contributor to The Tax Institute events. Current at 19 March 2015 Click here to expand/collapse more articles by Michael BUTLER.
 

This was presented at Tax Issues with Modern Trusts.

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