Practitioners quite regularly encounter a client who wants to take ownership of property held in a discretionary trust. This occurs most commonly in succession planning exercises, land tax minimisation planning or beneficiaries wanting to go their own way following relationship breakdowns.
This session considers:
- What is required to transfer property to a beneficiary
- The need to address the relevant trust law and tax law
- How accounts can support what is to be attempted
- Whether section 99B must be considered; and
- Other traps to be avoided.