Hi Guys
Been surfing the net and found this example of a Discretionary Trust Deed
www.reckon-docs.com.au/.../Sample Documents/Trust Fund/ Discretionary%20Trust.pdf
How does it look.
I want the Corporate Trustee (basically me)to be able to
1. Change the terms of the deed at any time without having to resettle.
2. Include a class of people that are not named in the deed itself ie freinds that have become closer than family over many years. This does not seem to be mentioned in the deed. Perhaps there is a way to include a wider range of people.
Basically this will be one of the crnerstones to buying and holding property outside of NSW in states that give land tax thresholds to trusts ie (I think, South Australia and QLD). In NSW it looks like an individual is the only entity that can get the threshold. I hate paying Land Tax and would rather pay less of it and pay a strata levy as at least you get something back for it.
Before I seek counsel on this I want to be able to tell a bad deed from a good one. No point in just going to my accountant and getting one of these off the shelf if its not fully modifyable in the future (without resettlement) as the world inevitably changes.
Gateway
Been surfing the net and found this example of a Discretionary Trust Deed
www.reckon-docs.com.au/.../Sample Documents/Trust Fund/ Discretionary%20Trust.pdf
How does it look.
I want the Corporate Trustee (basically me)to be able to
1. Change the terms of the deed at any time without having to resettle.
2. Include a class of people that are not named in the deed itself ie freinds that have become closer than family over many years. This does not seem to be mentioned in the deed. Perhaps there is a way to include a wider range of people.
Basically this will be one of the crnerstones to buying and holding property outside of NSW in states that give land tax thresholds to trusts ie (I think, South Australia and QLD). In NSW it looks like an individual is the only entity that can get the threshold. I hate paying Land Tax and would rather pay less of it and pay a strata levy as at least you get something back for it.
Before I seek counsel on this I want to be able to tell a bad deed from a good one. No point in just going to my accountant and getting one of these off the shelf if its not fully modifyable in the future (without resettlement) as the world inevitably changes.
Gateway