27 11, 2019

Avoid Surcharge Land Tax in NSW – Exclude Foreign Beneficiaries from Your Discretionary Trust

2019-12-05T08:16:30+09:30

If you hold residential land in NSW in a discretionary trust, chances are you will be subject to surcharge land tax due to changes that take effect at midnight on 31 December 2019. We can help you avoid the surcharge.

Avoid Surcharge Land Tax in NSW – Exclude Foreign Beneficiaries from Your Discretionary Trust2019-12-05T08:16:30+09:30
27 11, 2019

Surcharge Land Tax and Discretionary Trusts in NSW

2019-12-05T18:07:33+09:30

Does your discretionary trust hold residential land in NSW? If so, 31 December 2019 is an important date for you. The State Revenue Legislation Further Amendment Bill 2019 was introduced to the NSW Parliament on 22 October 2019. Once law, the effect of the new legislation is to deem a discretionary trust a foreign [...]

Surcharge Land Tax and Discretionary Trusts in NSW2019-12-05T18:07:33+09:30
22 11, 2019

Our answers to your top 5 questions about Private Ancillary Funds

2019-11-22T07:45:18+09:30

Do you want to be more strategic in your charitable giving, make a real impact on the community and create a lasting legacy as part of your family’s story? Private Ancillary Funds (PAFs) can be a great option to achieve these goals. To help you decided whether PAF is right for you, we’ve pulled together our answers to 5 questions we are frequently asked by those considering establishing a PAF.

Our answers to your top 5 questions about Private Ancillary Funds2019-11-22T07:45:18+09:30
13 12, 2018

How to operate a bank account

2019-09-17T08:11:13+09:30

You would think this is obvious. Some of us can still remember our first school savings account with the State Bank, pink piggybank and all… But when you start involving companies, trusts and partnerships, things can get a little more complicated.

How to operate a bank account2019-09-17T08:11:13+09:30
21 05, 2018

What is Division 7A really all about?

2019-09-17T08:15:03+09:30

If you have a company then you have probably sat in a meeting with your accountant and heard the phrase 'that may raise Division 7A issues'. Everyone usually then grumbles and nodes wisely, and moves on...  But you may be asking yourself, 'what the hell is Division 7A all about?' Glad you asked.

What is Division 7A really all about?2019-09-17T08:15:03+09:30
4 05, 2018

My trust is expiring – can I get an extension?

2019-09-17T08:17:19+09:30

We all love our trusts, but unfortunately they don't last forever. They have an ‘expiry date’.  When you reach this date, the Trust ends and its property must be distributed to beneficiaries. Before this time you need to consider who will be entitled to the assets, and what tax and stamp duty liabilities may be triggered. You also need to see if the date can be extended...

My trust is expiring – can I get an extension?2019-09-17T08:17:19+09:30
12 04, 2018

Transferring an asset from a super fund to a member – no stamp duty in SA

2018-08-28T09:06:23+09:30

In South Australia stamp duty is not payable on a transfer of real property from a trustee of a trust to a person who already has a defined beneficial interest in the property. For example, a transfer of property from the trustee of a unit trust to the unit holder. But there are a couple of tricks you need to be aware of.

Transferring an asset from a super fund to a member – no stamp duty in SA2018-08-28T09:06:23+09:30
23 03, 2018

Distributing assets from a family trust to a beneficiary – no stamp duty in SA

2018-03-28T05:54:33+09:30

In South Australia it is possible to transfer a property from a family trust to a beneficiary without stamp duty. Find out how.

Distributing assets from a family trust to a beneficiary – no stamp duty in SA2018-03-28T05:54:33+09:30
19 12, 2017

What is an unpaid present entitlement or ‘UPE’?

2019-09-17T08:20:55+09:30

If you have a discretionary family trust, then chances are your accountant has mentioned ‘unpaid present entitlements’ or ‘UPEs’. No doubt you have just nodded wisely, but deep down, do you really know what this means?

What is an unpaid present entitlement or ‘UPE’?2019-09-17T08:20:55+09:30
7 11, 2017

Are trusts a ‘tax loophole’ exploited by the wealthy?

2017-11-14T08:23:39+09:30

People who say this are just demonstrating their ignorance. Here’s why. The ability to use a trust as a ‘tax loophole’ was pretty much closed out in the 1970-80s. To suggest that trusts somehow make tax disappear for the ‘wealthy’ is plain silly.

Are trusts a ‘tax loophole’ exploited by the wealthy?2017-11-14T08:23:39+09:30
8 02, 2017

Do you need to pay stamp duty on a trust deed in New South Wales (NSW)?

2017-03-08T13:35:12+09:30

Yes. Duty of $500 is payable on the deed that establishes a family discretionary trust (and other forms of trusts).

Do you need to pay stamp duty on a trust deed in New South Wales (NSW)?2017-03-08T13:35:12+09:30
16 02, 2016

What is a ‘bucket company’ and when do you need one?

2017-11-18T08:33:50+09:30

The concept of a 'bucket company' is used to describe a company into which distributions from a discretionary trust are made to cap the tax rate on the trust's income to the flat company rate of 30%.

What is a ‘bucket company’ and when do you need one?2017-11-18T08:33:50+09:30
16 01, 2016

Can the trustee of your discretionary ‘family’ trust make a distribution to itself?

2019-04-02T11:59:16+09:30

The short answer is that it depends on whether the trustee first falls within the class of potential beneficiaries, and then whether the trustee is specifically excluded from benefiting.

Can the trustee of your discretionary ‘family’ trust make a distribution to itself?2019-04-02T11:59:16+09:30