The Australian Tax Office (ATO) have just released four tax rulings that will stop commonly used trust distributions to family members. It’s one of the most significant developments for the taxation of trusts in over two decades.The key impact from these ATO rulings on your trust are:The ability to spread...
Category: Trusts
How to Set Up a Family Trust
Setting up a family trust is a great way to optimise your tax position and share assets and distributions with family members. In saying that, it is important that you get the right advice before setting up your family trust. We'll break down the benefits of family trusts and how...
What is a Hybrid Trust?
Most people when they think of trusts think about the terms "trust funds" or "family trusts". In Australia, there are 3 common types of trusts, these are discretionary, unit and hybrid trusts. In this article, we'll be answering the question - what is a Hybrid Trust?To start with the basics,...
What is a Unit Trust?
Trusts are a valuable tool that can protect assets and make things more tax efficient. This is especially so of unit trusts here in Australia; however, they can be complex to set up correctly. In this article we take a look at what is a unit trust, as well as...
What is a Discretionary Trust?
Trusts, and in particular Trust Funds, tend to conjure up images of young people driving around in Porsches and having never-ending champagne lunches. And while that may sound like heaven (Ooo, it really does), the reality for most people is that discretionary trusts (and other types of trusts) are valuable...