There is Disc Trust A with a corp trustee A and Disc Trust B with corp trustee B.
John Smith is a specified beneficiary in trust A and trust B and also a director of corp trustee A and corp trustee B.
DT A receives distributions / dividends every year and DT B is running losses.
Can DT A distribute some income to DT B given the John Smith connection? The trust deed allows for 'any other related companies or trusts' under the general beneficiary scheduling. Is there a need for IEEs?
Any input appreciated. Cheers
John Smith is a specified beneficiary in trust A and trust B and also a director of corp trustee A and corp trustee B.
DT A receives distributions / dividends every year and DT B is running losses.
Can DT A distribute some income to DT B given the John Smith connection? The trust deed allows for 'any other related companies or trusts' under the general beneficiary scheduling. Is there a need for IEEs?
Any input appreciated. Cheers