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Cloning or splitting discretionary trusts paper

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Published on 14 Mar 08 by NATIONAL EVENTS, TAXATION INSTITUTE OF AUSTRALIA

This paper tackles the difficult issues thrown up when using trust splitting or cloning techniques for succession planning or wealth preservation. Case studies demonstrate the following:

  • technical problems with CGT events A1, E1 and E2
  • how to bring into existence a new trust
  • shifting value to the new trust
  • creditors following assets to the new trust
  • the incidence of stamp duty
  • keeping an eye on Part IVA.

Author profile

Kenneth Schurgott CTA-Life
Ken is a Solicitor and Director of Schurgott & Co Lawyers specialising in taxation matters (including State Taxes, stamp duty, payroll tax and land tax) and with extensive experience in business structuring, business sales and acquisitions, asset protection, succession planning and trust and estate law. Ken is very experienced in tax dispute matters, negotiations for settlements, mediations and conciliations and litigation. He regularly appears before the AAT and NCAT and instructs counsel in matters before the Courts. Ken was National President of the Institute in 2012. - Current at 06 July 2022
Click here to expand/collapse more articles by Ken SCHURGOTT.

 

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