hi all, Can a trust distribute property? Right now I have a family trust with my company acting as the corporate trustee. My company holds some shares in BHP as trustee. Can I distribute these shares to the beneficiaries of the trust? Or can I only distribute the income from these shares to the beneficiaries? If I can distribute them, will this attract stamp duty or capital gains tax of any kind? Thank in advance brains trust! Cheers
The trustee can potentially distribute assets. This will depend on the deed and something the trustee should seek legal advice on Will trigger CGT, unlikely to be duty.
Spot on as always. Thank you Terry! I’ll review the deed and see if it says anything about it. With CGT, I assume this would be paid at the beneficiaries’ marginal tax rate?
CGT discount might be available but it would be added to their other income so could end up higher than the marginal tax rate
