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?
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
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
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