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Why should you order trusts from DBA Lawyers?

By Daniel Butler, Director and Shaun Backhaus, Lawyer DBA Lawyers

Introduction

While DBA is recognised as Australia’s leading SMSF law firm, it is  also well known for it’s great depth of tax and trusts expertise.

In particular, DBA Lawyers offers an excellent discretionary trust deed that is easy to read, provides great flexibility and reflects the latest legislative changes. Also included is a detailed memo, trustee resolutions, covering letter and completion checklist.

The detailed memo includes a summary of the foreign trust purchaser duty and land tax surcharge for many of the relevant States and Territories. We explain, among other things, when a trust may be treated as a foreign trust, when extra foreign duty or extra land tax applies and the key rules and concessions. As this is a complex area, we recommend seeking advice if you have any concerns relating to your trust being ‘foreign’.

What’s in DBA’s discretionary trust package?

Below is a brief summary of the advantages of DBA Lawyers’ discretionary trust package:

  • We provide quality trust documents with the latest planning strategies (eg, streaming of income and power to allocate expenses to different categories of income).
  • We work at the coal face handling technical queries on a daily basis and drafting various related trust documents. We also provide ongoing technical support and assistance.
  • We can specifically tailor our trust deed to minimise the potential for extra duty and extra land tax in respect of real property by excluding certain ‘foreign beneficiaries’. As noted above, the memo provides a summary of the extra taxes in various States and Territories. Please click here for an article explain the Victorian foreign purchaser duty.
  • Our documents are easy to read and easy administer and our lawyers can tailor special changes to suit your particular requirements.
  • Our documents are regularly reviewed and revised as needed.

DBA Lawyers is committed to providing quality documents and excellent service and our documents are prepared and signed-off by a lawyer. As a trust deed typically has a very long lifespan (up to 80+ years), why settle for anything less.

To order a DBA discretionary trust, visit DBA’s website and order online at https://www.dbalawyers.com.au/discretionary-family-trust/.

We also offer a range of other trusts including unit trusts (that qualify as fixed trusts for tax and NSW land tax purposes), bare trusts, special disability trusts, child maintenance trusts, estate proceeds trusts and super proceeds trusts. For further information, please refer to https://www.dbalawyers.com.au/dba-price-list/.

For an article explaining our approach to excluding foreign beneficiaries please read our article: ‘Managing the extra duty and land tax surcharges on foreigners’ here.

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This article is for general information only and should not be relied upon without first seeking advice from an appropriately qualified professional. The above does not constitute financial product advice. Financial product advice can only be obtained from a licenced financial adviser under the Corporations Act 2001 (Cth).

Note: DBA Lawyers hold SMSF CPD training at venues all around. For more details or to register, visit www.dbanetwork.com.au or call 03 9092 9400.

DBA LAWYERS

1 November 2017

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