Hi, Just after some advice around setting up a discretionary (family) trust. The main question I have is around whether to set it up with a...
Changing the trustees of a trust is a bit of hassle with some major things to consider where the trustee holds valuable assets. It is best to...
Some clients have asked to exclude children of one of them and their spouse but not both of them from being a beneficiary of a trust. Example...
Tax Tip 287: How Capital Gains Through a Company can be Tax Free Companies pay a flat 30% tax on capital gains (or 27.5% in some cases). But this...
I set up companies and trusts and I often get asked what the ongoing costs of these are. I am not an accountant so don’t get involved in the...
Generally, companies are not considered to be good vehicles with which to hold shares because they do not receive the 50% CGT discount like...
A child maintenance trust (CMT) is a trust set up as part of a breakdown in a relationship. The trust is set up to benefit the children of the...
For a trust to exist the trustee needs to hold property for the benefit of other persons. Cash is ‘property’ and it can easily be transferred....
Hello there, I've recently joined InvestChat and am looking for some advice regarding an investment strategy that involves setting up a family...
I'm trying to determine the viability of setting up a structure that will legally minimize tax and protect assets for now and in the future. I'm...
Hi All, tried looking for the answer before posting (apologies if this has already been asked) - generally speaking a trust needs to distribute...
A discretionary trust can have beneficiaries other than members from the same family. A friend could be included as a beneficiary of the trust...
Some people ask me what the tax rate is for trusts. Trusts are treated as a separate tax entity, but they generally do not pay tax. They are what...
It is generally a good idea not to hold shares and property in the same trust. Here are 4 reasons why: a) Foreign Persons These days trusts...
What! I hear you ask, but wait, there can be good reasons to appoint an outsider as trustee of ‘your’ trust. This is especially so after your...
In NSW the land tax threshold is currently $734,000 (as of 2020) This means an individual could hold up to $734,000 in property, with a land...
Legal Tip 258: New Land Tax Sting for Trusts and Companies owning Land in NSW Under NSW law a ‘foreign person’ will pay more land tax and stamp...
Legal Tip 257: Dangers of having a friend act as trustee and mortgage your property There is a dangerous strategy being promoted out there...
Tax Tip 258: QLD Land held in Trust and Land Tax Exemption when living there In QLD land held by the trustee of a discretionary or unit trust...
Assets held as trustee for others are generally not available to creditors if the trustee goes bankrupt. See Legal Tip 46: Is property held by a...
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