Tax

Trusts

Trusts are commonly used as a vehicle for private family groups, businesses and investment purposes. We help you to realise the opportunities and navigate the risks.

It is estimated that over 1 million trusts exist in Australia. Trusts are commonly used as a vehicle for private family groups, businesses and investment purposes. Despite their prevalence, trusts are notorious and involve the application of the terms of the relevant Trust Deed, trust law, taxation law and equity. Trusts can provide significant benefits if used correctly. We can help you to get it right.

We assist with:

establishment – including:
- ~discretionary family trusts;
- ~bare trusts;
- ~unit trusts (fixed and non-fixed);
- ~hybrid trusts; and
- ~special disability trusts;
variations – including changing trustees and varying the trust deed;
succession planning;
litigation – including claims by beneficiaries, trustees and third parties;
tax disputes – including engaging with the ATO’s Trust Tax Avoidance Taskforce; and
tax advice – including section 100A, trust distributions, and resident beneficiary issues.

Approach

It is estimated that over 1 million trusts exist in Australia. Trusts are commonly used as a vehicle for private family groups, businesses and investment purposes. Despite their prevalence, trusts are notorious and involve the application of the terms of the relevant Trust Deed, trust law, taxation law and equity. Trusts can provide significant benefits if used correctly. We can help you to get it right.

We assist with:

establishment – including:
- ~discretionary family trusts;
- ~bare trusts;
- ~unit trusts (fixed and non-fixed);
- ~hybrid trusts; and
- ~special disability trusts;
variations – including changing trustees and varying the trust deed;
succession planning;
litigation – including claims by beneficiaries, trustees and third parties;
tax disputes – including engaging with the ATO’s Trust Tax Avoidance Taskforce; and
tax advice – including section 100A, trust distributions, and resident beneficiary issues.

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How do you charge?

Trust is one of our core values. We pride ourselves on not causing 'bill shock'. Our usual approach is to provide you with a clear and transparent fee quote to ensure that there are no surprises. You can then make an informed decision about whether you want to proceed or not.

What is section 100A and does it apply to my trust?

Section 100A of the Income Tax Assessment Act 1936 contains various anti-avoidance measures in relation to trust distributions.

Broadly, the section will apply where:

a beneficiary is presently entitled to the income of the trust and has arranged for another person to benefit from their entitlement to trust income;
the agreement was entered into for the purposes of reducing some person’s tax liability; and
the agreement was not an ordinary commercial or family dealing.

We frequently advise on the application of section 100A, and the ATO’s views on the application of section 100A.