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 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
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