Tax Advisory Specialists

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Tax Advisory Specialists
Category: Taxation Services

Key contact details for Tax Advisory Specialists
Mobile
0414 965 653
Email
Email business
Website
www.taxadvisoryspecialists.com.au
Address
PO Box 146, New Lambton NSW, 2305
 

Tax

Tax Advice


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Business profile

Some trusts have short vesting dates - for example where the settlor believed that beneficiaries should control their own destinies, particularly children when they reach a certain age. But when a trust vests, capital gains tax may be payable where the trust's assets have increased in value over time. To avoid this adverse outcome, instead of having a short vesting date, consider having the primary beneficiary automatically becoming the appointor and trustee of the trust at a designated time in the future. This would give the beneficiary control over their own destiny, without triggering a capital gains tax liability from the trust assets vesting to the beneficiary. There may also be other benefits from continuing the trust (such as asset protection etc)

  • Business profile

    Some trusts have short vesting dates - for example where the settlor believed that beneficiaries should control their own destinies, particularly children when they reach a certain age. But when a trust vests, capital gains tax may be payable where the trust's assets have increased in value over time. To avoid this adverse outcome, instead of having a short vesting date, consider having the primary beneficiary automatically becoming the appointor and trustee of the trust at a designated time in the future. This would give the beneficiary control over their own destiny, without triggering a capital gains tax liability from the trust assets vesting to the beneficiary. There may also be other benefits from continuing the trust (such as asset protection etc)

Tax Advisory Specialists's Keywords

Tax | Tax Advice