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Effective trust deeds and trust resolutions
Published on 01 May 12 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE
Drafting effective trust resolutions to take account of the interface between taxation law and trust law has never been a straightforward exercise. That said, the situation has become increasingly more challenging in recent years following significant judicial decisions and the Commissioner's release of numerous practice statements, decision impact statements and other pronouncements. Treasury has now sought to intervene by developing the new trust streaming measures, and further large-scale legislative reform is now proposed. In this climate of significant uncertainty, the task remains to provide practical solutions to clients to these complex issues.
This article is intended to provide some useful and practical observations on the drafting of effective trust deeds and trust resolutions. A number of case studies are provided to illustrate the key principles. The new trust streaming measures have been addressed in some detail, given their significance for the 2012, 2013 and possibly later income years.
Author profile
Peter Slegers CTA
Peter Slegers, CTA, heads Cowell Clarke’s Tax & Revenue, Superannuation and Private Client practice groups. Peter advises and acts for a wide range of public and private companies and high net worth individuals and families. Peter’s areas of expertise include income tax (as it impacts on business and high net worth clients), capital gains tax, goods and services tax, state taxes, trust law and superannuation law. Peter has published numerous papers on trust structures and has considerable experience in this area. Peter is also a co-author of the Tax Institute’s SMSF Income Stream Guide and Cowell Clarke’s Australian Agribusiness Advisers’ Guide.
- Current at
16 April 2024
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