Hey! My wife and I have recently purchased 2 new properties in WA and we were planning on purchasing another 2 properties in new trusts to assist...
Setting up a discretionary trust is usually done by deed or by will. It is a serious endeavour as the trust can hold valuable assets and it can...
This one is not generally known to most tax advisors. I learned about it from @Mike A A minor with a disability can potentially receive income...
Hi All, Trying to work out the following - and haven't been able to find a clear answer online. So thought to ask the PC experts! In a...
Legal Tip 435: Trusts and Title Since trusts are not legal persons they cannot be on title. Trusts are relationships between trustees and...
Legal Tip 433: Beneficial Ownership of Shares – ASIC Records of Beneficial Owner At the moment there is no need to inform ASIC of who a...
Tax Tip 535: ABNs, TFNs and GST for Trusts and Companies ABN is an Australian Business Number TFN is Tax File Number GST is Goods and Services...
Legal Tip 431: QLD Trusts Could Soon Last for 125 Years Under QLD law at the moment trusts can only last until up to 80 years before they must...
There has been a lot of ‘talk’ about the ATO ‘cracking down’ on trusts and section 100A about reimbursement agreements. This section basically...
The trustee of a discretionary trust may not need to wait until the end of the financial year for it to distribute the income or corpus of the...
Discretionary Trusts cannot claim interest on loans used to make capital or corpus distributions to their beneficiaries. Example Homer set up...
A trust is not a legal entity and it therefore it can’t really borrow like a company can. What happens when a trust wants to ‘borrow’ is the...
Tax Tip 511: Incorporating a Trust into a Strategy of Debt Recycling when Interest Rates are High Discretionary Trusts are generally a good way...
People often think a trust is a legal entity, but it is not, it’s just a relationship where someone owns something for someone else. A trust...
Generally, the trustee of a discretionary trust must resolve to make beneficiaries entitled to the income of the trust and this must be done...
Loans can be converted into gifts but gifts cannot be converted into loans. A gift is the transfer of ownership of an asset from X to Y. X would...
A discretionary trust with negative income means the loss is trapped in the trust and any franking credits attached to share dividends will be...
If the trustee of a discretionary trust has made a Family Trust Election then the trustee will need to pay Family Trust Distributions Tax if...
The trustee is the legal owner of the assets of a trust. If a trustee suddenly resigns or is otherwise removed from office they will still be the...
Is anyone on this forum familiar with NZ trusts? I have a colleague whose mother has lived in Australia for many years (like 20 years) and is...
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