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A Matter of Trusts: Family trust elections - remain vigilant


A family trust election is an election made that a trust will become a 'family trust' for the purposes of the taxation legislation. Once made a family trust election is irrevocable (except for some fixed trusts). Therefore, whilst a trust that has made a family trust election exists the implications of making that election will need to be continually monitored.

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Daniel Smedley CTA
Daniel enjoys solving complex taxation and trust law issues for private enterprise clients. He is also a trusted confidant in planning the succession of his client’s personal and business affairs. Daniel is a Chartered Tax Advisor with The Tax Institute, accredited as a specialist in Taxation Law with the Law Institute of Victoria, and the principal author of the Trust Structures Guide published by The Tax Institute. Since 2016, Daniel has appeared in the list of one of Australia's “Best Lawyers of the Year” in the practice of tax law. The list is compiled by Best Lawyers and published in the Australian Financial Review. Daniel has also been recognised in Doyles Guide as a recommended tax lawyer since 2016. Daniel is a regular presenter at state and national industry conventions, conferences and workshops. - Current at 12 August 2021
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