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Nsw unit trusts problem
I agree Mike. MGS deed is still 100% OK after this change. No issue whatsoever that I know of !!! I used to work at MGS I will admit. We worked hard to address the "fixed issue" and were light years ahead of even the court decisons. We uspet some others I admit and dont give a toss. Never wrong...- Paul@PFI
- Post #7
- Forum: Accounting and Tax
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Nsw unit trusts problem
Chan & Naylor NSW Fixed Trust has some issues in a client deed. It features income and capital units which doesnt comply. Amendment is available. Not by C&N !- Paul@PFI
- Post #5
- Forum: Accounting and Tax
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Nsw unit trusts problem
Terry - yes thats a common issue. Back and forward like the Australian open. Did they also give a ruling on the amendment of an existing trust? Important they agree on this in advance too to avoid duty triggers. This probably more a concern for trusts which allow cap & income if different %...- Paul@PFI
- Post #3
- Forum: Accounting and Tax
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Nsw unit trusts problem
Sorry to be bearer of bad news but lawyers and accountants you may have some clients with a land tax problem. Where a fixed trust holds property in NSW it is not considered a special trust. It receives a tax free threshold. This can save around $6,000 or more a year ($6k per trust) since land...- Paul@PFI
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- Replies: 6
- Forum: Accounting and Tax
