Recorded Webinar: Estate Planning Strategies When the Family Trust is Vesting

When a family discretionary trust vests, beneficiaries’ interests become fixed, and significant tax consequences may arise. The ATO’s 2018 tax ruling on the vesting of trusts makes it clear that once a trust vests, there is no action that can be taken to turn back the clock for tax purposes. This session explores the options available to advisers when clients are living with a trust that has vested, or where a vesting date is imminent. It covers:

• The trust has vested - now what?

• Understanding TR 2018/6 Income tax: trust vesting - consequences of a trust vesting:

• Does vesting trigger any income tax consequences?

• Unwinding an ineffective distribution - what do trustees need to consider?

• What does the ATO ruling mean for the second generation of family trusts?

• Varying the vesting date:

• When is it possible?

• Will extension of a vesting date trigger resettlement?

• Planning around an inevitable vesting - directing the trust assets and exploring restructuring opportunities

• Is it time to revisit South Australian trusts?

• Is it possible to convert an existing trust to a SA trust with perpetual succession?

• The degree of connection required to SA