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  Miscellaneous 2006

Discretionary trusts: where are we now with splitting and cloning?

Source: South Australia

Published Date: 6 May 2006

 

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One of the hot topics in trusts in the last few years has been using splitting or cloning as a solution to dividing control of family discretionary trusts among the next generation. It is important to understand what is being done, how and when and why it works from both a practical and tax view and what are the pitfalls. This paper focusses on:

  • practical reasons for splitting or cloning
  • can you effectively ‘divide’ a trust’s assets under trust law?
  • tax outcomes for CGT assets, trading stock and plant and equipment
  • stamp duty issues
  • family trust election constraints
  • practical issues.
Author(s)

Individual Session

Discretionary trusts: where are we now with splitting and cloning?

Author(s): Andrew Sinclair CTA
Materials from this session:

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Details

  • Published By: Andrew Sinclair CTA
  • Published On:6 May 2006
  • Took place at:Novotel Barossa Valley Resort

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