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2021 Local Tax Club – Discretionary Trusts (Brisbane)

Published on 25 Aug 2021 | Took place at Tattersall's Club, Brisbane, QLD

Australians love trusts! But some pretty ugly things can happen with trusts, when trustees make controversial decisions. This scenario, presented by David W Mark QC, works through the history of a dispute between a mythical family, and their property-rich discretionary trust. Who wins, when the chips are down? Is it the Tax Office?

  • What happens if the trustee makes a mistake in sending income to someone?
  • Can a trustee exclude someone from being a beneficiary? Is there any come-back on that?
  • What can the beneficiaries do to get mistakes fixed?
  • What is the difference between the trust deeds modelled on the Ramsden case, and the BRK (Bris) case?
  • How do you extract information from the trustees, to find out what they have done?
  • What can go wrong with trust administration?

Individual sessions

Discretionary trusts

Author(s):  David W MARKS

This presenation covers:

  • What happens if the trustee makes a mistake in sending income to someone?
  • Can a trustee exclude someone from being a beneficiary? Is there any come-back on that?
  • What can the beneficiaries do to get mistakes fixed?
  • What is the difference between the trust deeds modelled on the Ramsden case, and the BRK (Bris) case?
  • How do you extract information from the trustees, to find out what they have done?
  • What can go wrong with trust administration?
Materials from this session: