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Discretionary Family Trust

DescriptionSoftcopy *
Discretionary / Family Trust$300
Foreign person exclusion within new Discretionary/ Family Trust for one jurisdiction in relation to either or both of duty and land tax in that jurisdiction. For variation to existing trust click here.$800
*Add $100 for hard copy
As DBA Lawyers acts as agent for arranging payment of duty in Victoria with the SRO, the cost of duty is not subject to GST
Pricing (apart from duty) includes GST
An additional cost applies to have the deed assessed for duty in Victoria ($200 duty), NSW ($500 duty) and the Northern Territory ($25 duty) as discussed below. There is generally no need to have the deed assessed for duty in Queensland, Tasmania, South Australia, Western Australia and the Australian Capital Territory if the trust has no dutiable property at the time of execution. However, you will need to review the details on stamping requirements that are supplied with DBA Lawyers' trust documents.

From 1 August 2021 unless documents are ordered online at an additional $50 fee applies per suite of documents.

What’s in our package?

This package provides the necessary documents to establish a discretionary or family trust. It includes:

  • Letter
  • Relevant ATO forms
  • Trustee minutes
  • Memo and
  • Deed

Note: Stamp duty is $200 in Victoria, $500 in NSW and $50 in the NT (broadly, provided there is no dutiable property at the time of execution).

DBA Lawyers can assist you with stamping your deeds with the State Revenue Office of Victoria at a cost of $165 (incl GST) plus the cost of duty (currently) $200, our administration fee and postage. As DBA Lawyers acts as agent for arranging payment of duty with the SRO, the cost of duty is not subject to GST.

A Duty Summary for each state and territory‘s duty criteria and whether and where to stamp is included in our package.

Additional State and Territory taxes – foreign beneficiaries

Additional duty and land tax may be payable by a trustee of a discretionary trust in respect of real property and certain other dutiable property in most States and Territories in Australia. This primarily applies to residential property.

To minimise this risk, DBA Lawyers’ trust deed can be specifically drafted to exclude ‘foreign beneficiaries’.

If you want to distribute to foreign beneficiaries, we recommend that you first obtain our advice before ordering.

We can then prepare a deed tailored to your specifications for an additional fee.

Naturally, please let us know if you require any advice as it is vital that the right deed be obtained from the commencement of a trust.

Please note that once a deed is executed, it is difficult and costly to vary.

For more information:

· DBA Lawyers’ discretionary trust — managing the extra duty and land tax surcharges on foreigners [read more]

· Your discretionary trust may unwittingly be subject to extra duty or land tax [read more]

Corporate Trustees of Discretionary Trusts

If you are establishing a new discretionary trust, you should consider the advantages of a corporate trustee over individual trustees.  The long-term benefits of a company generally outweigh the up-front cost of incorporation.  Some of the main advantages are:

  • Asset protection for the directors from third party claims
  • Greater protection from trustee taxation liabilities
  • Clear separation of ownership of trust assets from individually owned assets

For information about ordering a DBA company, please click here.

For more information and related articles

For more information regarding why you should choose a DBA discretionary trust, click on the articles listed below:

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