Family / Discretionary Trust Deed

We’ve developed a market-leading family / discretionary trust deed that will give you the maximum possible flexibility in terms of “streaming” income of different categories (eg, franked dividends, capital gains, etc) to different beneficiaries.

Our cutting-edge family / discretionary trust deed has been drafted in accordance with the latest guidance laid down by CPA Australia in relation to trust streaming following the pivotal decision of the High Court in Commissioner of Taxation v Phillip Bamford & Ors [2010] HCA 10 and the consequent changes to the tax laws that were introduced in the Tax Laws Amendment (2011 Measures No 5) Act 2011 (Cth).

Document Overview:

1️⃣ Market-leading Family Trust Deed that maximises flexibility.

2️⃣ You can name up to 5 appointors, up to 5 primary beneficiaries and up to 5 initial trustees.

3️⃣ Each initial trustee can be an individual or a company.

Stamp Duty:

In some Australian jurisdictions Stamp Duty is payable upon the establishment of a new Trust.

In NSW the Trust Deed must be stamped within 3 months of execution - cost $500.
$10 per additional stamped copy.

In VIC the Trust Deed must be stamped within 30 days of execution - cost $200.
No charge to stamp additional copies.

In the NT the Trust Deed must be stamped within 60 days of execution - cost $20.
$5 per additional stamped copy).

In TAS the Trust Deed must be stamped within 90 days of execution - cost $50.
No charge to stamp additional copies.

Avoiding Stamp Duty:

Stamp Duty can be avoided.

If the Trust Deed is physically signed in a jurisdiction such as the ACT, QLD, SA, or WA.

It represents best practice to stamp the Trust Deed even where no Stamp Duty is payable.

No time limits apply for stamping in these jurisdictions.

Apply for ABN and TFN, and open a separate bank account:

Upon establishment of the trust, you need to:

1️⃣  Promptly make an application for an ABN and TFN for the trust; and

2️⃣ Open a separate bank account in the name of the trustee "as trustee for" the full name of the trust.

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