Published on 01 Sep 10
by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE
This article examines whether the vesting date of a trust can be extended to prevent the trust terminating and thus prevent adverse tax consequences arising. The rationale for the "rule against perpetuities", and its relevance for Australian trusts in 2010, is discussed. Consideration is given to the possibility of "domiciling" a trust in SA (where the rule against perpetuities was abolished in 1996) and avoiding the need for a vesting date.
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 corporate restructurings, cross-border investment, property, wine and mining taxation, trusts, and estate and succession planning. Michael is a past chair of The Tax Institute’s South Australia State Council and a regular contributor to Institute events.
- Current at
22 February 2021