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  2023 Trusts

Passing on control of your trust

Source: Online

Published Date: 1 Jun 2023

 

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Trusts have been used in family businesses for many generations as an effective structure that can meet current business and family objectives, provide flexibility, and also allow for the succession of the family assets between generations. This session investigates the ways in which control of trusts may be passed between generations in a family and business succession context, including:

  • Effective separation of the assets held on trust between family members as part of a succession plan – including via distribution, vesting cloning, trust splitting
  • Access to CGT rollover relief and the potential impact on access to the 50% CGT discount as considered in Paule v Federal Commissioner of Taxation, Hart v Federal
  • Commissioner of Taxation [2019] FCA 394; and
  • Consideration of the succession plan on family trust elections.
Author(s)

Individual Session

Author(s): Linda Tapiolas CTA
Materials from this session:

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