Published on 01 Aug 15
by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE
The use of discretionary trusts as property investment and commercial vehicles has been well established in Australia for some time. This article considers a number of issues surrounding discretionary trusts that may be of interest to someone who has to decide what investment vehicle to use, and also to someone who has already chosen such a vehicle. The article provides a historical background and an overview of the taxation of trusts, and goes on to discuss issues including whether to notify a trust in the land title register, ASIC returns, custodian trustees, settlement sums, beneficiaries, the principal or appointor and the principal’s fiduciary duty, vesting and the rule against perpetuities, choice of law, the trustee’s lien, family law issues, and asset protection issues.
Lister Harrison QC, of the Brisbane Bar, was senior counsel for the unsuccessful respondents in Broadbeach Properties.
- Current at
01 October 2008