Fixed Unit Trust "by declaration"

We’ve developed a market-leading unit trust deed to create a fixed unit trust “by declaration” – i.e., the trust is constituted when the initial trustee executes the trust deed as a deed poll. The trust deed functions in much the same way as the constitution of a company, and units in the unit trust operate in a similar way to shares in a company.

Unit trusts are frequently used instead of companies, most commonly because, unlike companies, unit trusts are “pass-through” for tax purposes: this can make a dramatic difference, especially in relation to capital gains tax, as companies are not eligible for certain CGT discounts. Unit trusts are also not regulated under the Corporations Act 2001 (Cth) in the same way as companies and may therefore offer more flexibility in certain respects – eg, in relation to transactions affecting the unit capital (such as buy-backs and redemptions of units), financial reporting obligations, etc.

Although the trustee may be an individual, it is common for the trustee to be a company that has been incorporated specifically for the purpose of acting as the trustee of the unit trust. This is because the trustee may be personally liable for debts and other obligations that it incurs on behalf of the trust.

Document Overview:

1️⃣ Market-leading, top-tier quality Unit Trust Deed.

2️⃣ Created “by declaration” – i.e., simply executed by the initial trustee.

3️⃣ Initial trustee can be an individual or a company.

4️⃣ Full control over meetings and decisions of unitholders.

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