Div 149 and application to discretionary trusts
Source: Western Australia
Published Date: 12 Mar 2026
After more than 40 years, there are still many discretionary trusts holding assets acquired before 20 September 1985. Are they still pre-CGT? It should not be assumed so. Generational and other changes present challenges in supporting that majority underlying interests have been maintained since 1985.
This session covers:
- The relevant Division 149 concepts in the context of discretionary trusts;
- The Commissioner’s statutory power to determine where majority underlying interests have been maintained;
- The Commissioner’s past approach in rulings and Edited Private Advice to applying the above power in relation to discretionary trusts;
- Based on a recent ART case, is the Commissioner seeking to deviate from his past approach?
- Effect of CGT roll-overs or death, as relates to discretionary trusts, including testamentary trusts; and
- Consequences where an asset has lost its pre-CGT status.
Individual Session
Details
- Published By: David Montani
- Published On:12 Mar 2026
- Event Name:WA Tax Forum
- Session Name:Div 149 and application to discretionary trusts
- Listen Time:1+ hour
- Took place at:Pan Pacific Perth
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