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Fixed trust/fixed entitlement paper

Published on 10 Oct 08

There are a number of substantial tax provisions which practitioners regularly rely upon which work on the presumption that they're dealing with a "fixed" trust. But are they? The common example is a unit trust which is generally assumed to be a fixed trust. Often it is not the case. This paper covers:

  • what is a fixed trust?
  • what is a ‘vested and indefeasible interest?'
  • when do you need a fixed trust?
  • trust losses
  • CGT events affecting trusts
  • CGT scrip for scrip rollover
  • company ownership interests and losses
  • amendments to make a trust fixed - is it a resettlement?
  • mining hybrid trust gems or creating false leads.

Author profile

Andrew O'Bryan CTA
Andrew is a Partner at Hall & Wilcox Lawyers and provides advice on the application of a wide range of taxation. He has substantial knowledge of taxation and commercial practice and advises his clients on income tax, capital gains tax, tax audits and reviews, fringe benefits tax, business structuring and transactions, liquidations and reconstructions, superannuation, retirement planning, business succession, estate planning, and philanthropy. Andrew advises accounting and legal firms on their clients’ affairs. He also draws clients from industry, commerce and high-net-worth private family groups. One of his main interests is advising private business owners on the transition of management and control of family businesses to the next generation. Andrew has been recognised in the The Best Lawyers in Australia in Tax Law every year since 2014 and is a leading tax lawyer in Victoria in Doyle's Guide to the Australian Legal Profession. - Current at 12 November 2019
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This was presented at 2008 Victorian State Convention .

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