Resettlement of Trust - change of Appointor or Trustee

Viewing 4 posts - 1 through 4 (of 4 total)

Tony Burnett
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@tonyburnett
Join Date: 2016
Post Count: 17
January 30, 2016 - 4:16 pm
1. Im just wondering if changing just the Appointor can constitute a resettlement of a Trust?
2. Im just wondering if changing just the Trustee can constitute a resettlement of a Trust?
Terryw
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@terryw
Join Date: 2001
Post Count: 16,213
January 30, 2016 - 5:42 pm
1. generally not
2. generally not
But stamp duty can still result depending on the structure.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
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Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Tony Burnett
Participant
@tonyburnett
Join Date: 2016
Post Count: 17
January 31, 2016 - 2:00 pm
Thanks Terry
I should of given more info on my question…………my question relates to the standard discretionary trust that’s used by most law firms in the last ten years…….to be more exact the standard discretionary trust from ACIS.
“But stamp duty can still result depending on the structure.”
Are you saying stamp duty can be a issue either if its the appointor gets changed or the Trustee, and if so which one?
I should of added to the original question also – the implications of resettlement or stamp duty of removing or adding a beneficiary of a Trust?
Terryw
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@terryw
Join Date: 2001
Post Count: 16,213
January 31, 2016 - 6:49 pm
Yes stamp duty could apply in either case, including removing or adding a beneficiary of the trust.
Don’t forget to consider CGT. But generally this is easier going.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au