11 March 2021 - LightYear Docs Strategy School: Varying a Trust without a Resettlement - ATO Ruling

For so many decades there has been a myth promulgated by the legal profession that an amendment to a discretionary trust deed results in a new trust being established leading to capital gains tax and stamp duty issues. With the Bamford Case enabling the streaming of capital gains, foreign income and franking credits many old deeds were left stranded. 

The Commissioner released tax determination 2012/21 to cover the amendment of deeds and what and what is not a resettlement. For everyone who has read this, including myself, it is so far different to the resettlement myth that has mad the rounds for decades. In this session, Grant Abbott and Tony Anamourlis will look at the ATO determination, review some old deeds and complete two upgrades for advisers to show how it is done legally and effectively.

This session will have one hour CPE for tax agents and for FASEA/ASIC it is 0.5 client care and 0.5 technical

Mercanti Case on Deeds

Upgrading a Discretionary Trust

ATO DT Resettlement