For trustees making distributions from a discretionary trust, there is more to consider than the application of section 100A and section 99B. Trustees are under a fiduciary duty to administer a trust in accordance with the terms of the trust imposed upon them. This session covers other important questions that trustees should be taking into account, such as:
- Does the trustee have unfettered discretion (re: Owies case)?
- Can the Commissioner apply Part IVA to family trust distribution decisions (Minerva case);
- What happens if my trust has vested? and
- What should distribution minutes look like? (TR 2018/6).