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Establishing new trusts as part of succession planning paper


This paper covers the following topics:

  • cloning trusts:
    • what is it, how does it work, what are the taxation implications and when would you do it?
    • family trust election issues
    • Division 7A issues
  • testamentary trusts:
    • control from the grave - letters of wishes vs deeds of family arrangement
    • family trust election issues
    • superannuation proceeds trusts - protection v death benefit ETPs
    • ownership of main residence and taxation implications of occupation rights
  • child maintenance trusts
  • trust to trust distributions (income and/or capital) and perpetuity issues
  • gifts to and secured loans from trusts to secure equity in property for the next generation.

This paper was also presented at the Preserving and Passing on the Family Wealth seminar held in Melbourne on 8 November 2005 and on 1 December 2005 at the repeat 13th National Tax Intensive Retreat in Noosa.

Author profile

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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This was presented at 13th National Tax Intensive Retreat: Preserving Wealth for Future Generations .

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Session 1 and 2 workshops


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Successful succession for success

Author(s):  Peter BOBBIN

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Session 7 workshop


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