There are really 2 occasions when a private binding ruling (or PBR) should be applied for from the ATO, and they are: a) When the law is...
A ‘memorandum of Wishes’ Is also known as a ‘letter of wishes’ or ‘statement of wishes’. I call them “MOWs” A MOW is an informal document making...
We (my wife and I) do not have properties, but would like to start buying/investing in property. We would like to target to target to have...
If someone dies their minor children might go and live with someone – who might be a surviving parent, or a legal guardian or someone with no...
In the ‘good old days’ a trustee of a discretionary trust could make a charity presently entitled to the income of the trust. Trusts generally...
Diverting income to a company is a way to postpone excess tax to future years. The company will generally pay a 30% tax rate and the shareholder...
Generally changing trustees will not trigger CGT and will not trigger stamp duty. However, under NSW law there is the possibility that a change of...
2 Trustees can legally own trust assets in their capacity as trustee as either Joint Tenants or as Tenants in Common. If 2 (or more) trustees...
Divorce or separation can change who the beneficiaries of a trust are and this can sometimes have unintended consequences. Example The Simpson...
Taxpayer Alert TA 2022/1 Parents benefitting from the trust entitlements of their children over 18 years of age...
How long does it take to set up a trust for the purpose of buying an investment property? On a purchase if you sign "and or nominee" can this...
When a person who is applying for a loan controls a discretionary trust if they cause the trust to distribute its income to themselves this income...
The general idea people have when they come to me for ownership structuring advice, is that I will tell them about one structure which will suit...
Legal Tip 372: Trustees for Children and Land Sometimes land is held by a trustee for the benefit of minor children. This often happens when the...
Many discretionary trusts are drafted in such a way that Beneficiaries will change over time. This will happen where the deed is worded so that...
Hi, I work 30 hours per week and also receive an income from an overseas trust that a relative set up for me years ago. I am the primary...
A declaration of trust over dutiable property is a dutiable event and will trigger ad valorem duty just as a transfer of title would. Example...
One of my children is about to turn 18 and I will be able to pay her from a DT. I have heard that I can retain that income in the trust (it will...
When a ‘trust’ gets a loan it will be the trustee that is the borrower with the directors of the trustee company giving guarantees – this is the...
It is a trust that cannot see. Blind trusts have been in the news a bit lately. The concept of a blind trust is that a person, the beneficiary,...
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