fabiParticipant@fabita90Join Date: 2016Post Count: 1
I have an existing discretionary trust that I never used. This trust was created in 2014 to buy and hold an investment property.
1. Can I use this trust now but the main source of income will be to provide consultancy services to external fee paying clients as opposed to investment?
2. Is this change will trigger any re settlement of the trust?
3. Do I need to change the trust deed or let the ATO know any change?
Thanks in advance,TerrywParticipant@terrywJoin Date: 2001Post Count: 16,190
1. If the trustee has this power. Read the deed and the relevant trustee act
2. Probably not
3. Depends on the above. Tell ATO on the next trust tax return.
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