In particular, the article considers individual to company roll-overs, partnership to company roll-overs, company to company roll-overs, scrip-for-scrip exchanges, the tax consolidations regime, and other transaction costs. The starting point for any change of trusteeship is always the terms of the trust deed. In , a violent storm battered his vessel off the coast of County Donegal, Ireland, so severely that he called out to God for mercy, a moment that marked his spiritual conversion. By Matthew Burgess Published by Taxation in Australia, July Volume 52 Issue 1 Estate planning and the super reforms — 17 things you must be aware of The superannuation reforms are widely acknowledged as being the most fundamental changes to the superannuation landscape in over a decade. When peace, like a river, attendeth my way, When sorrows like sea billows roll; Whatever my lot, Thou hast taught me to say, It is well, it is well with my soul. As regular readers of this Bulletin will know, there does not necessarily need to be an appointor or principal provision under a trust deed. A SPT can be established by a will or by deed after the death of an individual, although establishing the structure post death can be problematic and is outside the scope of this article. If Jordan above me shall roll, No pang shall be mine, for in death as in life Thou wilt whisper Thy peace to my soul. He was pressed conscripted into service in the Royal Navy, and after leaving the service, he became involved in the Atlantic slave trade.
A SPT can be established by a will or by deed after the death of an individual, although establishing the structure post death can be problematic and is outside the scope of this article. The article discusses the benefits and limitations of these strategies in turn, and also includes a summary of child maintenance trusts. Though Satan should buffet, though trials should come, Let this blest assurance control, That Christ hath regarded my helpless estate, And hath shed His own blood for my soul. With hindsight, each of our earlier articles have focussed on discretionary trust deeds. Newton wrote the words from personal experience. Unauthorized reproduction is a violation of applicable laws. My sin—oh, the bliss of this glorious thought! A previous article in this Bulletin explored the key revenue issues in relation to changing the trustee of a discretionary trust see 'Changing trustees of trusts — Simple in theory … not so simple in practice', at WTB 6 . The decision, which was upheld on appeal in Breakwell v FCT  FCA 22 December , reported at WTB 1  remains a timely reminder of the critical interplay between various legislative provisions that practitioners must be constantly aware of. There are a range of issues often overlooked in relation to distribution resolutions. The difficulty in many such exercises is that serious attempts to devise and implement a plan are often not made until some triggering event, such as financial or matrimonial misfortune, life-threatening illness or death, stimulates action. That decision held that franking credits could form part of the income of a trust estate for trust law purposes and be streamed to particular beneficiaries. Some clarity at long last Since the withdrawal of the ATO's draft Buy Sell Discussion Paper in there has been some uncertainty about many aspects of insurance funded buy-sell arrangements, particularly those that utilise insurance trusts. This article considers a number of opportunities to restructure discretionary trusts. In other words, as regularly explained in this Bulletin, the starting point in any trust related matter is to read the trust deed. In this regard, the 'read the deed' mantra has been regularly highlighted in this Bulletin see for example WTB 38  and WTB 43 . An equally important and related issue concerns a decision to change the principal or appointor role of a family trust. The benefits of family trusts are generally still sufficient to make them the preferred structure for asset protection, tax planning and succession purposes. Subscribe to our YouTube channel: The starting point for any change of trusteeship is always the terms of the trust deed. The author argues that, in this regard, the optimal approach is to methodically follow a tailored checklist. But, there is a more fundamental issue that deserves attention — fettering of a trustee's discretion. By Matthew Burgess Published by Taxation in Australia, July Volume 52 Issue 1 Estate planning and the super reforms — 17 things you must be aware of The superannuation reforms are widely acknowledged as being the most fundamental changes to the superannuation landscape in over a decade. This article also provides a summary of the key advantages and disadvantages for each of the main pathways explored. For me, be it Christ, be it Christ hence to live: This article explores a number of pathways and issues that trustees and advisers should consider when a trust deed has been lost or misplaced.
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