In November 2016, "Are foreign trusts the new black?” written by Sladen Legal’s Phil Broderick was published in The Tax Institute Journal, Taxation in Australia.
As more jurisdictions create special rules for “foreign trusts”, it is important to understand what makes a foreign trust under each measure. This article examines when a trust will be a foreign trust and what changes can be made to trusts to ensure that they are not foreign trusts under Commonwealth’s FIRB regime and the Duties Act regimes in Victoria, New South Wales and Queensland.
This is a complicated area of tax and trust law and is not something that should be even considered without first seeking legal advice.
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