Can’t Clone – what now? Succession planning for trusts presentation

Published on 04 Aug 09 by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE

The division and divestment of control of family discretionary trusts has suffered somewhat with legislative amendments announced to remove the "trust cloning" exemption. In light of these changes, this presentation outlines alternative options for advisers and their clients in implementing succession planning strategies for family discretionary trusts including:

• trust splitting as a continuing and useful alternative
• dividing control using the matriarch or patriarch's will
• other methods of 'dividing' trust assets
• in specie distributions
• weighing practical and commercial requirements against tax outcomes.

Author profile

Marc Romaldi CTA

Marc Romaldi, CTA, has over 14 years tax law experience from practising in accounting and legal spheres in both domestic and international environments. Capital gains tax, general income tax, international tax, stamp duty, GST, superannuation and fringe benefits tax all form part of Marc's tax law skill set. This expertise is used to advise ASX-listed companies, private enterprises and high net worth individuals on the commercial and tax implications of structuring, restructuring, acquisitions and sales. - Current at 22 January 2018

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