A recent case in the Victorian Supreme Court has provided a timely reminder to trustees of family trusts: in the trust minutes, trustees are better off not explicitly setting out any reason for making a particular decision (such as distributing … Continued
If a client has had a falling out with a child, spouse or relative and wishes to exclude that person as a beneficiary of an existing discretionary trust, the trustee’s motive may come under scrutiny, as happened in Schreuders v … Continued
Did you know that when you purchase a discretionary trust or unit trust from Castle, we provide a complimentary stamping service? For many years, Castle has been given authority from the State Revenue Office of Victoria to stamp deeds in-house. … Continued
Since the advent of Tax Determination (TD) 2012/21 back in 2012, people have been able to make changes to their trust deeds without triggering a CGT resettlement, provided that the change is authorised by the trust deed variation clause. This has lead … Continued
With the advent of the PPSR regime, it is now more important than ever to ensure that related party loans are properly documented. Many people rely on simple entries in a balance sheet to evidence a related party loan. But … Continued