We demystify tax objections, disputes and tax problems. Our experienced and accredited tax lawyer assists accountants and clients with perceptive tax advice and savvy legal documents....
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I admit to trepidation when I find a trust deed for a family discretionary trust (FDT) has a power allowing the trustee to add anyone as beneficiary of the trust – an add anyone power (AAOP). Why should this be of concern? The three certainties The essentials of a valid trust are certainty of: 1. […]
The principal and controller of a family discretionary trust (FDT) may have died. The trustee of the FDT (Trustee) may be inclined to distribute income of the trust at financial year end (ITFYE) to his or her deceased estate (DE) for two apparent reasons nevertheless: the Trustee may seek to broadly maintain, at least in […]
Gift icons created by Freepik – Flaticon These days trust deeds (Deeds) of family discretionary trusts (FDTs) frequently allow a trustee of a FDT to distribute to a trust as a beneficiary (TAAB) where the TAAB has a beneficiary or beneficiaries in common with the FDT. So could it be that, once a named beneficiary of […]
Will a self managed superannuation fund (SMSF) investment in an overseas apartment or investment property open up assisted overseas travel opportunities for the members of the SMSF? Can or should the SMSF reimburse the members who travel to an overseas residential property (ORP) to improve, maintain or to get the ORP ready for letting, for […]
There is more to investing in real estate together with a self managed superannuation fund (SMSF) than meets the eye. It can be fraught and illegal under SMSF rules. This blog looks at why. Joint tenancy ownership compared to ownership by tenants-in-common The title of this blog piece does not refer to investing jointly with […]
Usually but the answer is nuanced. It is often claimed that a trustee exercising a discretion [Discretion] to favour himself/herself/themselves/itself (HHTI) as a beneficiary of a family discretionary trust (FDT) is acceptable but legal authority for the claim isn’t given. Even the Australian Taxation Office distills the proposition to a sentence. They say: The trustee […]
Perils travelling to your SMSFs overseas residential property @Ausbiz @ipaaccountants #smsf @SolePurposeTest
Thinking of investing in residential property with your SMSF as a tenant-in-common? There's more to it than meets the eye. It can be fraught and illegal under SMSF rules #TaxTwitter @Ausbiz @ipaaccountants #superannuation #smsf #tenantsincommon
When can a trustee favour itself as a beneficiary of a family discretionary trust? More nuanced than you might think #TaxTwitter @Ausbiz @ipaaccountants
#trusts #discretionarytrusts
The Land Tax Management Act and Revenue NSW take an odd ball approach to working out when a fixed trust is not a special trust for NSW land tax #TaxTwitter @Ausbiz @ipaaccountants #landtax #trusts
