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- Title
Unravelling trusts: splitting, cloning and umbrella trusts.
- Authors
Burgess, Matthew
- Abstract
The need for effective structuring of business and personal assets has been brought into sharp focus for high net worth individuals and business over recent years. The benefits of family trusts are generally still sufficient to make them the preferred structure for asset protection, tax planning and succession purposes. However, the capital gains tax and commercial issues raised in the context of umbrella trusts, trust cloning and trust splitting are significant, and care should be taken when restructuring and establishing discretionary trusts. The author argues that, in this regard, the optimal approach is to methodically follow a tailored checklist. This article provides a starting point for the development of such a list.
- Subjects
FAMILY trusts; CORPORATE profits; BUSINESS enterprises; TAX planning; CAPITAL gains tax
- Publication
Taxation in Australia, 2017, Vol 52, Issue 1, p28
- ISSN
0494-8343
- Publication type
Article