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Resources on demand

Traps with living with the modern discretionary trust

How many discretionary trusts are you involved with? Discretionary trusts are one of the most commonly used investment and trading structures and have been for some time.

It has always been important to read the deed of a discretionary trust and consider whether it gives sufficient tax planning flexibility and is consistent with the overall estate plan of the controllers.

However, there have also been some recent legislative changes that impact the way that discretionary trusts should be established and managed, for example, the new(ish) foreign surcharge regimes around Australia.

We are finding some of these issues are being missed, resulting in tax and duty liabilities, as well as estate planning disputes.

After this webinar, you will be able to identify:

  • common tax issues in trust deeds
  • the impact of foreign duty and land tax surcharge regimes on discretionary trusts and how this can be managed
  • the importance of checking the eligible beneficiaries of a discretionary trust and whether a family trust election has been made
  • the duty traps of making changes to discretionary trusts or their trustees
  • what steps to take to ensure succession of a discretionary trust passes in accordance with the controllers’ wishes.