Join Australia's most dynamic and respected property investment community

Legal Tip 13: Do your trust resolutions before 1 July

Discussion in 'Legal Issues' started by Terry_w, 30th Jun, 2015.

  1. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

    Joined:
    18th Jun, 2015
    Posts:
    8,982
    Location:
    Sydney
    This is a last min reminder that if trustees do not resolve to distribute income of a discretionary trust before 1 July then the trustee could be taxed on the income of the trust at the top marginal rate.

    Just an hour to go.
     
  2. D.T.

    D.T. Adelaide Property Manager Business Member

    Joined:
    13th Jun, 2015
    Posts:
    5,584
    Location:
    Adelaide, SA
    Or back date the document?
     
  3. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

    Joined:
    18th Jun, 2015
    Posts:
    8,982
    Location:
    Sydney
    Not a good idea to commit a crime if you can avoid it. And if you do not a good idea to publicly expose yourself.
     
  4. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

    Joined:
    14th Jun, 2015
    Posts:
    2,104
    Location:
    Sydney & Adelaide
    Best to avoid that no matter what the time of year