All Topics / Legal & Accounting / Resettlement of Trust – change of Appointor or Trustee

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  • Profile photo of Tony BurnettTony Burnett
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    @tonyburnett
    Join Date: 2016
    Post Count: 17

    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?

    Profile photo of TerrywTerryw
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    @terryw
    Join Date: 2001
    Post Count: 16,213

    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://structuring.com.au/
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://Terryw.com.au/

    Profile photo of Tony BurnettTony Burnett
    Participant
    @tonyburnett
    Join Date: 2016
    Post Count: 17

    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?

    Profile photo of TerrywTerryw
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    @terryw
    Join Date: 2001
    Post Count: 16,213

    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://structuring.com.au/
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://Terryw.com.au/

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

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